LIC IPO: India to mediate proposals from investment banks in June, says document


The initial public offering of Existence Insurance protection Corporation can also happen as early as March 2022, the document claimed.

June 03, 2021 / 04: 23 PM IST

The Centre reportedly targets to raise around $24 billion through the ambitious disinvestment programme.

The Centre reportedly targets to steal around $24 billion by the fearless disinvestment programme.

For the planned initial public offering (IPO) of the speak-flee Existence Insurance protection Corporation of India (LIC), the central executive is brooding about to mediate proposals from investment banks in June, a document said on June 3.

Of us acquainted to the pattern claimed that proposals can also be sought from the investment banks "this month", the Bloomberg document said, including that executive will ship invitations within the "coming weeks" for the piece sale of the insurance company.

The IPO of India's supreme insurance provider supplier can also happen as early as March 2022, the document claimed, citing anonymous sources.

Also Read | Up to 10% of LIC IPO inform measurement to be reserved for policyholders: MoS Finance Anurag Thakur

The planned stake sale in LIC, which had drawn a notable response from India's opposition, was once presented by Finance Minister Nirmala Sitharaman whereas presenting the Union budget for monetary Twelve months 2020-21.

The manager of Prime Minister Narendra Modi is anticipated to pass ahead with the planned disinvestment in LIC, along with the nationwide provider Air India and the speak-flee Bharat Petroleum Corporation.

The Centre reportedly targets to steal around $24 billion by the fearless disinvestment programme. The amount raised would reinforce the manager's monetary positioning amid the warfare against COVID-19.

The LIC itemizing can also price at around $261 billion, analysts at monetary products and companies firm Jefferies India said in February this Twelve months, the Bloomberg document identified.

The total resources of LIC are estimated at around Rs 32 trillion ($439 billion), as of monetary Twelve months 2019-2020, basically based on the corporate's most well liked annual document. The insurer holds a dominating home market piece of shut to 70 p.c.

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