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India’s largest LIC IPO, Government will sell up to 25 percent stake in LIC

The government is likely to offer discounts and bonuses to attract more retail investors to the Life Insurance Corporation of India (LIC) IPO. For blockbuster LIC IPO, it is said to be the largest IPO in India. The government is proposing to reduce its equity stake from 100 percent to 75 percent. It will also be possible in more than one phase. IPO of the second route mobile in the same week. It Will open on 9th September.

In This The government will dilute 25% of the shares. The Government will initially declared Bonuses to attract the investors. The Best part for retail investor is that Government will provide them 10% Discounts. There will be 6 amendments to the LIC Act for IPO.

In this Covid-19 pandemic Government needs money. Government plans to sell their stack in many Government companies and planning to raise good amount of money.

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