Ground set for LIC IPO
Decks are being cleared for the mega listing of Life Insurance Corporation of India (LIC), India’s largest financial institution with assets of over Rs 32 lakh crore.
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The government is systematically removing hurdles in the way, and market regulator SEBI has relaxed norms to make the listing process smoother.
Market regulator SEBI has relaxed the norms to make the listing process easier and smooth.
Currently, issuers with a post-issue market capitalisation of Rs 4,000 crore are required to offer at least 10 per cent of the post-issue capital to the public and achieve a minimum public holding of 25 per cent within three years.
SEBI has now said the issuer with a post-issue market capitalisation needs to make an offer of Rs 10,000 crore and five per cent of the incremental amount beyond the Rs one lakh crore. The size will ultimately depend on the valuation.
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