LIC may file preliminary IPO prospectus today, price band on Wednesday

Life Insurance Corporation is likely to file a preliminary IPO prospectus on Tuesday, sources directly involved in the IPO process told Reuters.

The government is looking to sell a 3.5 per cent stake in the state-owned insurance behemoth and the IPO is likely to open in the first week of May.

The price band for the per equity share is likely to be announced on Wednesday, the sources said.

LIC management and the investment bankers will embark on road shows in six cities across India - including Mumbai, New Delhi, Bengaluru, Ahmedabad, Rajkot, Kolkata - where they will be meeting potential investors and