LIC may list on May 17; IPO of right size, says Dipam Secy Tuhin Pandey

The government is selling 221,374,920 shares in LIC, aiming to raise around Rs 21,000 crore

Life Insurance Corporation of India (LIC) will come out with its IPO on May 4. The company has set a price band at Rs 902 to Rs 949 per equity share, said Dipam Secretary Tuhin Kanta Pandey. He added that it will be called LIC 3.0 phase.

In a press conference he said, "LIC IPO will not crowd out capital and monetary supply in the market. The IPO is right sized, given the constraints in the market. The government has a long commitment to list LIC on the stock exchange and the listing LIC is a long-term strategic