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LIC IPO to open on May 4: Sources

The initial public offering of the country’s largest insurer LIC will open on May 4 and close on May 9, sources said. The IPO, through which the government will sell 3.5 per cent stake in state-owned Life Insurance Corporation (LIC), will fetch Rs 21,000 crore to the exchequer. The IPO values LIC at Rs 6 …

Godavari Biorefineries to launch over Rs 700 cr IPO at right time, watching geo-political situation

Ethanol and bio-based chemicals maker Godavari Biorefineries Ltd on Sunday said it is watching the geo-political situation and will make its share market debut “at the right time”. Godavari Biorefineries Ltd CEO and Managing Director Samir Somaiya told PTI that the company has already received the market regulator Sebi’s final approval for its initial public …

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Good run for IPOs in the last decade: Two-thirds of public offers since FY13 have given positive returns

Two-thirds of the companies that hit the markets via initial public offerings (IPO)s over the last decade have generated positive returns, according to information sourced from Prime Database. Interestingly, the highest number of value creators were listed in FY21, the first year of the pandemic. While 83% of the companies listed in FY21 are trading …

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Walmart’s Flipkart raises IPO valuation target to $60-70 billion, eyes 2023 listing, say sources

Walmart’s Indian e-commerce company Flipkart has internally raised its IPO valuation target by around a third to $60-70 billion, and now plans a U.S. listing in 2023 instead of this year, two sources with direct knowledge of the plan told Reuters. Flipkart, which competes with Amazon.com Inc in India’s booming e-commerce space, had earlier set …

Joyalukkas files Rs 2,300-crore IPO papers with SEBI, will compete with Titan, Kalyan Jewellers upon listing

Kerala-based jewellery retail chain will use Rs 463.9 crore for financing the opening of eight new showrooms. Joyalukkas India has filed a draft red herring prospectus (DRHP) with capital markets regulator SEBI to launch Rs 2,300-crore IPO. The net proceeds of the issue will be utilised for repayment or prepayment, in full or part, of …

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LIC IPO: Government files updated draft papers with SEBI for Life Insurance Corporation’s 65,000 crore IPO

“Updated DRHP of LIC with December financials has been filed,” an official said, adding it was required to be done as per Sebi observations. The government has filed updated draft papers with market regulator Sebi for an initial public offer of LIC, incorporating December quarter financials of the insurance behemoth, an official said on Monday. …

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