LIC IPO: Centre plans to raise up to Rs 25,000 cr from over 24 anchor investors
The Life Insurance Corporation of India (LIC) will also undergo a change in its board structure and adopt new accounting standards before its IPO
BusinessToday.In | June 14, 2021 | Updated 10:26 IST
Centre may line up over two dozen anchor investors for mega IPO
The Centre is mulling to draw in a clutch of anchor investors to pump in up to Rs 25,000 crore in the shares of Life Insurance Corporation of India (LIC) in its IPO (Initial Public Offering).
The state-run insurer will also undergo a change in its board structure and adopt new accounting standards before its initial share sales.
The authorised share capital of LIC shall be Rs 25,000 crore divided into 2,500 crore shares of Rs 10 each, as per the amendments proposed in the Life Insurance Corporation Act, 1956