City
Epaper

LIC gets market regulator SEBI's approval for IPO

By ANI | Updated: March 9, 2022 17:00 IST

The market regulator Securities and Exchange Board of India (SEBI) has approved the initial public offering proposal of the Life Insurance Corporation of India (LIC), sources said on Wednesday.

Open in App

The market regulator Securities and Exchange Board of India (SEBI) has approved the initial public offering proposal of the Life Insurance Corporation of India (LIC), sources said on Wednesday.

The SEBI's approval came 22 days after the government-run LIC filed a draft paper for the IPO.

LIC had filed the Draft Red Herring Prospectus (DRHP) with the market regulator SEBI on February 12.

Sources said the SEBI has issued the observation letter to the Life Insurance Corporation of India for the IPO. This is one of the fastest approvals given by the market regulator for an IPO.

As per the DRHP, up to 31,62,49,885 (31.62 crore) equity shares will be on offer through the offer for sale (OFS), representing 5 per cent of the equity stake of Life Insurance Corporation of India.

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Securities And Exchange Board Of IndiaSebiSecurities exchange board of india
Open in App

Related Stories

NationalSEBI Cracks Down on Stock Market Misleaders: 15,000 Sites and Influencers Banned

NationalMutual Funds New Rules: SEBI Brings Major Relief to SIP Investors; Check Details

NationalReliance Home Finance Case: SEBI Fines Jai Anmol Ambani, Son of Anil Ambani, Rs 1 Crore

MumbaiYouth Congress Protest: Akhilesh Yadav and Others Detained by Police In Mumbai (Watch Video)

MaharashtraSEBI Chief Madhabi Puri Buch Defends Conflict of Interest Allegations; Calls It False and Malicious

Business Realted Stories

BusinessKudos to Govt's efforts under PM Modi leadership for ensuring peace, stability: NSE CEO

BusinessAdani Power to supply 1500 MW to Uttar Pradesh from upcoming greenfield power plant

BusinessIndiGo announces relief measures for affected passengers due to airport closure

BusinessAdani Power to supply 1,500 MW to UP from upcoming greenfield power plan

BusinessAdani Power to supply 1,500 MW to US from upcoming greenfield power plant