LIC IPO DRHP Updates: LIC may not file DRHP with SEBI today.
LIC IPO DRHP Updates: Life Insurance Corporation (LIC) may not file the Draft Red Herring Prospectus (DRHP) for its IPO (Initial Public Offering) today, according to market participants. Reports had earlier suggested that LIC’s board will meet today to finalize the details of the IPO, and eventually file papers with the market regulator SEBI. However, LIC is now expected to file its draft papers next week. The street is eyeing details including the issue size, OFS, and various investor quotas. The embedded value of LIC was finalized a week ago at over Rs 5 lakh crore. The public issue may help the government reach its revised divestment target of Rs 78,000 crore, cut down from the initial target of Rs 1.75 lakh crore. LIC’s IPO is expected to hit the street before the end of this fiscal year.