National

LIC’s IPO, India’s Biggest, To Open May 4, Price Band ₹ 902-949: Govt Sources

According to official sources, the Life Insurance Corporation’s (LIC) long-awaited public issue offer, India’s largest, will be priced between 902 and 949 rupees, with a 60 percent discount for policyholders and a 45 percent discount for retail investors and employees.

The IPO would begin on May 2 for anchor investors and from May 4 to May 9 for investors, according to the sources.

According to sources, the LIC board of directors agreed a reduction in the IPO issue size from 5% to 3.5 percent on Saturday.

The government is poised to sell a 3.5 percent share in LIC for Rs 21,000 crore, valuing the insurance giant at Rs 6 lakh crore.

According to government sources, there is also the potential of increasing the stake offer from 3.5 percent to 5%, in which case the state’s coffers will get a total of 30,000 crore from the sale of its equity.

Dear Readers,
As an independent media platform, we do not take advertisements from governments and corporate houses. It is you, our readers, who have supported us on our journey to do honest and unbiased journalism. Please contribute, so that we can continue to do the same in future.
Some error occurred

Related posts

National

Tamil Nadu: 11 Electrocuted, Including 2 Children In Temple Chariot Procession

Aleesha Sam

Kalimedu: According to authorities, electrocution occurred during a chariot parade at a temple in Tamil Nadu’s Thanjavur district early this morning, killing 11 persons and injuring 15 others.

According to police, the incident occurred when the temple palanquin or temple car they were standing on collided with a high-transmission line at Kalimedu’s Appar Madam temple.

“The temple palanquin faced some obstacle while taking a turn when it came into contact with the overhead line,” officials said.

Officials say two of those killed were youngsters, and the injured have been taken to a local hospital for treatment.

On Tuesday night, April 26, the 94th Appar Gurupoojai (festival for Lord Ayyapa) was held. The event was attended by a large number of individuals from the surrounding communities.

When the temple chariot was being pulled through the streets by devotees, an electric wire became entangled in the chariot as it was being turned. This resulted in the electrocution of ten people, two of them were children. They all died on the spot.

Several people who were hurt in the event were transferred to a local hospital and are being treated right now. Because there were puddles of water all throughout the neighbourhood, the scenario was even more dangerous, and more individuals may have died as a result of the tragedy.

After the electrocution, approximately 50 people stepped away from the temple chariot, which was surrounded by puddles, averting a major loss of life.

Related posts

News Hub