by [ad_1]
The issue is expected to open for subscription on May 4 and is expected to close on May 9.
Insurance giant LIC has set a price target of Rs 902-949 per share for a public offer of Rs 21,000 crore, which may open on May 4, sources said.
According to sources, Life Insurance Corporation (LIC) will offer a discount of Rs 60 for policyholders and Rs 40 for retail investors and employees. The issue is expected to open for subscription on May 4 and is expected to close on May 9.
The government planned to sell 5 per cent or 31.6 crore shares of Bima Behemoth in February and submitted draft papers to SEBI.
However, due to the ongoing market volatility in the Russia-Ukraine war, IPO plans faced headwind. Last week, the government decided to reduce the size of the issue to 3.5 percent.
Also read | Market recovery after a two-day slide; Sensex jumped 777 points, Nifty ended marginally above 17,200
Also read | Gautam Adani is now the fifth richest person in the world
Latest business news
.
[ad_2]
