LIC likely to launch $8-bn IPO on 11 March: Report

LIC IPO is expected to obtain regulatory approval by the first week of March (REUTERS) — LIC IPO is expected to obtain regulatory approval by the first week of March **(REUTERS)**

1 min read . Updated: 18 Feb 2022, 02:18 PM IST Reuters

LIC IPO: The book will open for anchor investors on 11 March
The bidding for other investors may open a couple of days later

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A public offering of shares by India's state-run Life Insurance Corp (LIC), set to be the country's biggest ever at $8 billion, is expected to open for anchor investors on March 11, three sources with direct knowledge of the matter told Reuters.

The book will open for bidding by other investors a couple of days later, the sources said.

LIC's initial public offering (IPO) is expected to obtain regulatory approval by the first week of March after which an indicative marketing price band will be set, said the sources, declining to be named as the deal discussions are private.

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LIC declined to comment. A finance ministry spokesperson did not immediately respond to a Reuters request seeking comment.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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