LIC IPO: Will the reduced offer size help garner investor interest?

While analysts remain mixed on how the government’s largest-ever IPO would perform on Dalal Street, they expect the issue to sail through as the markets have staged strong recovery from March lows.

1) LIC’s IPO will open for subscription from 4 May to 9 May

2) The government, which wholly owns the insurance behemoth, plans to sell a 3.5 per cent.

3) LIC has cut the size of IPO from 5 per cent to 3.5 per cent due to the market condition. A proposal to reduce the size of LIC’s IPO to 3.5 per cent from 5 per cent proposed in its draft red herring prospectus (DRHP) was tabled and approved at a board meeting held on Saturday.

4) Reservations for policyholders and employees, and discounts, issue dates and issue price will be known by Wednesday, PTI reported.

5) LIC IPO has received ₹13,000 crore worth of investment commitments from anchor investors, more than twice the value of shares offered to such investors, Mint reported citing sources.

6) LIC is valued at ₹6 trillion, which is just 1.1 times its original embedded value of ₹5.39 trillion, according to the revised estimates of the government. 

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