LIC IPO: DIPAM Secy Tuhin Kanta Pandey's top takes on the mega public issue

Life Insurance Corporation on April 27 invited the media for a conference at 12.30 pm on the forthcoming IPO. The much-awaited issue of the state-run insurance behemoth is set to open on May 2 for anchors and on May 4 for subscription, the sources said a day earlier, adding that the IPO will likely close on May 9. DIPAM Secy Tuhin Kanta Pandey said, "Even after the reduce size of ₹21,000 crore, the LIC IPO will initially be the biggest ever IPO in the country." Here’s some top takes from DIPAM Secy’s top takes at the LIC IPO briefing.

LIC to be India's biggest initial public offering ever. (Image: Moneycontrol)

LIC price band at Rs 902-949 per share. (Image: Moneycontrol)

Size of the IPO at Rs 20,557 crore. (Image: Moneycontrol)

At upper end, government will garner around Rs 21,000 crore. (Image: Moneycontrol)

Government does not plan to launch LIC FPO till next year. (Image: Moneycontrol)

For retail & employees, discount of Rs 40. (Image: Moneycontrol)

Government to divest 3.5% stake by selling 22.13 crore shares. (Image: Moneycontrol)