Business Standard

Getting IPO-ready: LIC boosts shareholders' corpus to Rs 6,600 crore

The move is to ensure a much larger shareholder base ahead of IPO

Life Insurance Corporation
Premium

Life Insurance Corporation

Nikunj Ohri New Delhi
Life Insurance Corporation of India (LIC) has increased the size of its shareholders’ fund to Rs 6,600 crore from Rs 100 crore in a bid to accommodate a larger shareholder base ahead of its public listing.

The size of the fund has been enhanced by retaining two years' of dividend and issuing fresh capital, said an official. Increasing the size of the shareholders’ fund will help boost the number of shares for allotment in the insurer’s initial public offering (IPO).

The corpus represents the amount of equity in a company that belongs to its shareholders. In the Union Budget, the Centre had

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 31 2022 | 6:05 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com