The issue is likely to open for subscription on May 4 and is expected to close on May 9.
Sources said insurance giant LIC has fixed a price band of Rs 902-949 per share for the Rs 21,000-crore public offer, which is likely to open on May 4.
According to sources, Life Insurance Corporation (LIC) will offer a discount of Rs 60 for policyholders and Rs 40 for retail investors and employees. The issue is likely to open for subscription on May 4 and is expected to close on May 9.
The government had in February planned to sell 5 per cent stake or 316 crore shares in the insurance giant and filed a draft letter with Sebi.
However, the IPO plans faced backlash due to the ongoing market volatility amid the Russo-Ukraine war. Last week, the government had decided to reduce the issue size to 3.5 per cent.
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