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150	150	= LIC IPO =
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	152	+**LIC's IPO Likely To Open On May 4, But Exact Timelines Post April 27**
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	154	+April 25, 2022; LIC's IPO is likely to open on May 4 and close on May 9, according to sources, who said the exact timelines will be confirmed post April 27th.{{footnote}}https://www.ndtv.com/business/lic-ipo-likely-to-open-on-may-4-and-close-on-may-9-sources-2919445{{/footnote}}
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	157	+The Life Insurance Corporation's (LIC) long-awaited public issue offer is likely to open on May 4 and close on May 9, according to sources, who said the exact timelines would be confirmed post-April 27.
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	160	+The exact date ranges and other details of the LIC's initial public offering (IPO) will be confirmed next week, the sources added.
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	163	+That comes on the heels of the LIC board approving a cut in its IPO issue size to 3.5 per cent from 5 per cent, according to sources on Saturday.
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	166	+The government is now expected to sell 3.5 per cent of its stake in LIC for ₹ 21,000 crore, subject to the approval of the capital markets regulator Securities and Exchange Board of India, SEBI.
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	169	+That would value the insurance behemoth at 6 lakh crore.
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	172	+A significant cut in valuation from a previous estimate of around ₹ 17 trillion for the 66-year old company.
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	175	+The draft red herring prospectus filed with the SEBI and approved showed the government had proposed a sale of its 5 per cent equity.
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	178	+Still, despite that setback and lowering of the company's valuation, it would be India's most significant to date.
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	181	+Indeed, the public issue size of the insurance behemoth at the lowered ₹ 21,000 crore will be larger than the amount mobilised from the IPO of Paytm in 2021 was the largest ever at ₹ 18,300 crore, followed by Coal India (2010) at nearly ₹ 15,500 crore and Reliance Power (2008) at ₹ 11,700 crore.
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	184	+The stake sale was initially planned to be launched in March 2022, but the Russia-Ukraine crisis derailed those plans as stock markets were highly volatile.
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	187	+Previously, the government was expecting to garner over ₹ 60,000 crore by selling about 31.6 crore or 5 per cent stake in the life insurance firm to meet the curtailed disinvestment target of ₹ 78,000 crore in 2021-22.
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	190	+[[Comments>>path:javascript:void(0);]]But the drastic lowering of ambitions for the IPO would be a setback for the government and challenge its fiscal balances as the disinvestment was positioned and aimed at replenishing the state's coffers.
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152	152	**Government appoints Kotak Mahindra, JP Morgan, Goldman Sachs, others as intermediaries.**{{footnote}}https://www.moneycontrol.com/news/business/ipo/lic-ipo-government-appoints-kotak-mahindra-jp-morgan-goldman-sachs-others-as-intermediaries-7445791.html{{/footnote}}
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