The Initial Public Offering (IPO) of LIC opens for retail and institutional investors on Wednesday and will close on May 9
IPO refers to the first issue of shares to the public of either a privately-owned company or a company that is wholly owned by the government.
By offering a 5 per cent stake to investors – 31.62 crore shares – the government will keep the entire proceeds of the IPO with itself while raising between Rs. 60,000 and Rs. 65,000 crore from the market.