LIC IPO: In view of the uncertainty created by the outbreak of Russo-Ukraine battle, the federal government will take any determination concerning the preliminary public providing (IPO) of the nation’s largest insurance coverage firm LIC maintaining in thoughts the pursuits of traders.

Government appears to be reconsidering the timeline for LIC’s IPO
Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), mentioned on Friday that the federal government needs to convey the IPO of Life Insurance Corporation of India (LIC) within the present monetary yr itself, however the present state of affairs has turn out to be fairly dynamic. The authorities was making ready to convey it in March 2022 itself, however in view of the turmoil within the inventory markets because of the Ukraine disaster, it appears to be reconsidering it.

Government to boost over Rs 60,000 crore from LIC IPO
The authorities is hoping to boost greater than Rs 60,000 crore from the disinvestment of its 5 per cent stake in LIC. It has a goal of elevating Rs 78,000 crore from disinvestment within the monetary yr 2021-22, from which it’s lagging far behind.

Steps can be taken solely within the curiosity of traders
Pandey mentioned in a seminar on ‘Economics of Competition Law, 2022’, “Some unforeseen events are happening at this point of time. We are closely monitoring the market and whatever steps the government will take will be in the interest of investors and IPOs.” Will be.”

Getting recommendation from professionals
He mentioned that the federal government needs to convey this IPO within the present monetary yr itself, however with the arrival of this disaster, the state of affairs has turn out to be very changeable. He mentioned that in such a state of affairs there’s a have to be alert and make a technique accordingly. Tuhin Pandey mentioned that the federal government is taking the recommendation {of professional} consultants on this regard and a choice can be taken maintaining in thoughts the pursuits of traders and stakeholders.

DIPAM’s secretary mentioned, “LIC is not just a strategic investment but a very important event. LIC being a very old organization, its public ownership is also very wide.”

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