LIC Looks To Cut IPO Size: Reports

The Lie Insurance Corporation, which is set to come-up with an AIPO is likely to cut the IPO size. The Business Standard reported that the IPO may be slashed to Rs 21,000 crore.

The IPO, however, may come with a greenshoe option of Rs 9,000 crore, Business Standard reported. The total IPO size, after accounting for the greenshoe option, will work out to Rs 30,000 crore and will lead to 5 per cent dilution of the government stake.

The government had earlier planned the IPO for March 2022, however, the war that erupted between Russia and Ukraine led to the markets falling sharply. This resulted in a postponement of the IPO.

The issue will likely have 35 percent of its offer for retail investors, 10 percent for policyholders, apart from anchor investors.