Bombay High Court refuses to stay LIC IPO

The Court, however, clarified that any public issue that LIC proceeds with between now and till the disposal of the writ petition will be subject to the final decision in the petition.

The Bombay High Court recently refused to stay the Draft Red Herring Prospectus (DRHP) filed by Life Insurance Corporation (LIC) of India for the issuance of shares though Initial Public Offering (IPO) to investors. [Charudatt Changdeo Pawar & Ors. v. Union of India & Ors.]

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