Known to be India's largest ever IPO, through this the government is disinvesting its 3.5 per cent stake to collect approximately Rs 21,000 crore from the markets.
The issue comprises an offer for sale up to ₹20,557 crore where the government will offload a 3.5% stake. Also, LIC offers ₹60 per equity share discount to LIC policyholders, and ₹45 per equity share discount offered to retail investors.
Government has directed all bank branches designated to process ASBA - Application Supported by Blocked Amount - applications to be kept open for public on May 8