LIC IPO to open on May 4: Sources

The preliminary public providing of the nation’s largest insurer LIC will open on May 4 and shut on May 9, sources mentioned.

The IPO, by which the federal government will promote 3.5 per cent stake in state-owned Life Insurance Corporation (LIC), will fetch Rs 21,000 crore to the exchequer.

The IPO values LIC at Rs 6 lakh crore.

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