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The insurance behemoth is eyeing to raise about Rs 21,000 crore through the initial public offering, which will close on May 9.
The NRI business baron said he would not comment any further on the issue as George has withdrawn his statement.
The timing for placing a bid for subscription is from 10 am to 5 pm. The IPO will conclude on May 9 at 3 pm.
In conversation with Manorama, state-owned insurance and investment firm's chairman M R Kumar opined that there is no point in waiting indefinitely despite unpredictable market conditions.
Only those who have bought their policy on or before February 13 will be eligible for the policyholder discount. They will get a discount of Rs 60 on each share.
The insurance giant will offer a Rs 60 discount for policyholders and Rs 40 for retail investors and employees.
Her ministry is the nodal authority for approving the recommendation of the Central Board of Trustees of Employees' Provident Fund Organization.
The bankers have told the Indian government that launching LIC's stock offering would make sense in the coming months when investors are more confident.
LIC's initial public offering (IPO) is expected to obtain regulatory approval by the first week of March, after which an indicative marketing price band will be set.
LIC's assets under management (AUM) stood at Rs 39.56 trillion as of September 30, 2021 - more than three times the total AUM of all private life insurers.