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LIC IPO: Centre plans to raise up to Rs 25,000 cr from over 24 anchor investors The Life Insurance Corporation of India (LIC) will also undergo a change in its board structure and adopt new accounting standards before its IPO BusinessToday.In | June 14, 2021 | Updated 10:26 IST Centre may line up over two dozen anchor investors for mega IPO The Centre is mulling to draw in a clutch of anchor investors to pump in up to Rs 25,000 crore in the shares of Life Insurance Corporation of India (LIC) i...

The authorised share capital of LIC shall be Rs 25,000 crore divided into 2,500 crore shares of Rs 10 each, as per the amendments proposed in the Life Insurance Corporation Act, 1956

According to one of the 27 proposed amendments, the central government will hold at least 75 per cent in LIC for the first five years post the IPO

The finance minister added that legislative amendments to this effect will be launched in the Parliament in the budget session.