LIC IPO, || Impact of LIC IPO ||
The Finance Ministry has not received any opposition to the proposal of listing Life Insurance Corporation of India (LIC) on the stock exchanges. The government is working on the modalities of LIC share sale, which will be carried out depending upon stability of markets, and an initial 5 per cent equity can be sold in the market, a senior government official said.
We havent received any opposition in writing on LIC share sale. It is a complex exercise and the work has already started to seek necessary approvals for selling shares in the market, the official said.
Sources said even after the listing of LIC, the government will continue to provide sovereign guarantee for all policies issued by the Corporation.
The Budget 2020-21 announced an ambitious disinvestment agenda, aiming to raise Rs 2.1 lakh crore through stake sales next year, including plans to sell part of the governments stake in LIC, the countrys largest insurer, through an initial public offering (IPO).
The Centre also proposed to sell its equity in the stressed IDBI Bank to private, retail and institutional investors through the stock exchange.
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LIC IPO, || Impact of LIC IPO || The Finance Ministry has not received any opposition to the proposal of listing Life Insurance Corporation of India (LIC) on the stock exchanges. The government is working on the modalities of LIC share sale, which will be carried out depending upon stability of markets, and an initial 5 per cent equity can be sold in the market, a senior government official said. We havent received any opposition in writing on LIC share sale. It is a complex exercise and the work has already started to seek necessary approvals for selling shares in the market, the official said. Sources said even after the listing of LIC, the government will continue to provide sovereign guarantee for all policies issued by the Corporation. The Budget 2020-21 announced an ambitious disinvestment agenda, aiming to raise Rs 2.1 lakh crore through stake sales next year, including plans to sell part of the governments stake in LIC, the countrys largest insurer, through an initial public offering (IPO). The Centre also proposed to sell its equity in the stressed IDBI Bank to private, retail and institutional investors through the stock exchange.