The Life Insurance Corporation (LIC) on Wednesday said it will launch its initial public offer (IPO) in the first week of May. The price band for the LIC IPO is set at ₹902 to ₹949 per equity share. The size of the LIC IPO will be the largest so far in the country when it launches on May 4. It will remain open for bidders till May 9.
The government is targeting to raise ₹20,557.23 crore by offloading 3.5 per cent of its equity stake or 22.13 crore shares of LIC. Although, it is significantly lower than the earlier projection of about ₹60,000 crore.
Here's a list of other biggest IPOs in the country:
One97 Communications Ltd (Paytm)
The parent company of India's biggest online banking firm Paytm, One97 Communications Ltd made its stock market debut on November 18 with an IPO size of $2.46 billion.
Coal India Ltd
Coal India Ltd is an Indian government-owned coal mining and refining corporation. It launched its IPO on November 4 in 2010 with an IPO size of $2.05 billion.
General Insurance Corp of India
The state-owned insurance company launched its initial public offering in 2017 on October 25 with an IPO size of $1.52 billion.
SBI Cards & Payment Services Ltd
{{/usCountry}}SBI Cards & Payment Services Ltd
{{/usCountry}}Previously known as SBI Cards & Payment Services Private Limited, the credit card company launched its IPO on March 16, 2020, with an IPO size of $1.39 billion.
Reliance Power Ltd
Owned by Anil Ambani's Reliance Group, Reliance Power Ltd entered the stock market in 2008. It had an IPO size of $1.36 billion.
New India Assurance Co Ltd
Mumbai-based general insurance company's IPO was launched in 2017 with a size of $1.29 billion.
Zomato Ltd
The restaurant aggregator and food delivery app, Zomato had opened its IPO in 2021 with an IPO size of $1.26 billion.
DLF Ltd
Commercial real estate developers launched their IPO in 2007 with an IPO size of $1.24 billion. The company is responsible for the development of Delhi's mostly residential colonies such as Model Town, South Extension, Greater Kailash, Kailash Colony, and Hauz Khas.
HDFC Standard Life Insurance (now known as HDFC Life Insurance Co Ltd)
A joint venture of Housing Development Finance Corporation Ltd (HDFC) and Abrdn, a global investment company, HDFC Standard Life Insurance had debuted the stock market with an IPO size of $1.17 billion in 2017.
SBI Life Insurance Co Ltd
SBI Life Insurance Co Ltd is an insurance company and it is a joint venture of government-owned State Bank of India (SBI) and French financial institution BNP Paribas Cardiff. Its IPO was launched in 2017 with a size of $1.13 billion.