A majority of the brokerages recommend investors to exercise caution. They say only those investors who can take high risks should go for this issue.
The company intends to garner about Rs 413 crore through fresh issue of equity shares upto Rs 161 crore and an offer for sale of of upto Rs 252 crore by the shareholders and promoters.
The IPO, sized at Rs 413 crore, comprises fresh shares of Rs 161 crore and an offer for sale worth Rs 252 crore by shareholders and promoters.
The government will sell more than 31 crore equity shares of LIC, according to the draft red herring prospectus filed with SEBI in February.