By Yash Jain Feb 11, 2022 5:48:18 PM IST (Updated)
CNBC-TV18 learns that the board has approved the filing of DRHP document for the IPO. It is learnt that DRHP mentions a dilution of 5 percent from the government of India through the IPO.
Life Insurance Corporation's board met on Friday to consider a proposed mega initial public offering (IPO) of the state-run insurance behemoth.
CNBC-TV18 learns that the board has approved the filing of DRHP document for the IPO. It is learnt that DRHP mentions a dilution of 5 percent from the Government of India through the IPO.
However there is no clarity on the reservation and discount for policy holders. According to the LIC Act, a 10 percent reservation and discount is permitted as far as the IPO is concerned.
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