NEW DELHI: Life Insurance Corporation (LIC) will launch its initial public offering (IPO) on May 4, and close it on May 9. The price band has been set between Rs 902 and Rs 949. The issue will open to anchor investors on May 2.
The government will sell 3.5 per cent stake in LIC or 22.13 crore shares in the company and raise Rs 20,557.23 crore. This is well short of earlier projection of about Rs 60,000 crore.
