Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
you are here: HomeNewsBusiness

LIC IPO is right-sized and will not crowd out capital and monetary supply, says DIPAM secretary

Tuhin Kanta Pandey also said they expect strong retail participation in the issue.

April 27, 2022 / 01:31 PM IST
Representative Image

Representative Image

The much-anticipated initial public offering (IPO) of Life Insurance Corporation of India (LIC) will not crowd out capital and monetary supply, said Tuhin Kanta Pandey, secretary at department of investment and public asset management (DIPAM), at a press conference on April 27.

The IPO will open for subscription on May 4 and the government will sell 3.5 percent stake in the range of Rs 902-949 per share.

Pandey said even after the reduced size, LIC's will be the largest IPO in India so far. He also expected strong retail participation in the issue.

He added that the government wants to champion LIC as a long-term value creator in the equity market.