The wait for the IPO of Life Insurance Corporation (LIC) is going to end soon. The government on Thursday invited applications for the posts of Legal Adviser, Book Running Lead Manager, Registrar and Advertising Agency for Public Issues (IPO).
The Request for Proposal (RFP) can be downloaded from the CPPP site, according to the Department of Investment and Public Asset Management (DIPAM). Bids can be submitted from 15th July onwards. The last date for submission of bids is 6th August while the bid opening will be on August 9.
It has been said in the official circular that no single bidder can submit more than one bid. Let us inform that the cabinet has approved the IPO of LIC this week. The government expects this public issue to be launched by the end of the current financial year (2021-22).
Today the central government said that the IPO size of LIC will be bigger than all the IPOs that have come so far. About 10% of the IPO will be reserved for policyholders.
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