LIC expected to be pinned on global watchlists, says Avener Capital

NEW DELHI: Once listed on the exchanges, Life Insurance Corporation (LIC) is expected to be pinned on global portfolio watchlists, said financial services provider Avener Capital.

The insurer's long-awaited Initial Public Offering (IPO) is likely to open for investors on May 4 and will remain open to subscription till May 9.

It will be the largest and landmark public issue in the history of the Indian capital market.

The IPO values LIC at Rs 6 lakh crore.

"Amidst the volatile environment, the revision in the LIC IPO valuation demonstrates the keenness of the government to deliver on the IPO," said Shivam Bajaj, Founder and CEO at Avener Capital.

The revised IPO valuation can potentially unlock a favourable opportunity for investors towards wealth creation, it said.

The issue offer of the LIC will be in the price band of Rs 902 to Rs 949, IANS reported on Tuesday.

Also, the policyholders will be offered a Rs 60 discount, while for retail investors, the discount will be Rs 45.