Cabinet clears plan for LIC IPO; listing proposed by March this fiscal

Mini

The ministerial panel will decide on pricing and the quantum of government stake to be divested.

The initial public offer (IPO) plan for Life Insurance Corporation (LIC) IPO is likely to have been cleared by Cabinet Committee for Economic Affairs (CCEA), sources informed CNBC-TV18.
The government has proposed to list LIC by March FY22, sources said.
The ministerial panel will decide on pricing and the quantum of government stake to be divested.
LIC is working on embedded value, internal efficiency and product restructuring.
While presenting Union budget for the financial year 2020-21, Finance Minister Nirmala Sitharaman had proposed to sell a part of the government stake in the insurance behemoth, Life Insurance Corporation of India.
The proposed stake sale will happen through an Initial Public Offer (IPO), she had said.
LIC, fully owned by the Indian government, is typically a big investor in share sales, including IPOs of state-run companies.
Tags

Market Movers

CompanyPriceChng%Chng
Sun Pharma773.30 70.30 10.00
Tech Mahindra1,211.30 83.50 7.40
Cipla926.80 43.70 4.95
HCL Tech1,033.65 26.05 2.59
Adani Ports675.55 15.90 2.41
CompanyPriceChng%Chng
Sun Pharma773.55 70.30 10.00
Tech Mahindra1,212.00 84.25 7.47
HCL Tech1,033.50 25.90 2.57
Bajaj Auto3,834.90 72.10 1.92
M&M744.35 12.65 1.73
CompanyPriceChng%Chng
Sun Pharma773.30 70.30 10.00
Tech Mahindra1,211.30 83.50 7.40
Cipla926.80 43.70 4.95
HCL Tech1,033.65 26.05 2.59
Adani Ports675.55 15.90 2.41
CompanyPriceChng%Chng
Sun Pharma773.55 70.30 10.00
Tech Mahindra1,212.00 84.25 7.47
HCL Tech1,033.50 25.90 2.57
Bajaj Auto3,834.90 72.10 1.92
M&M744.35 12.65 1.73

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.35500.07000.09
Euro-Rupee88.45600.20800.24
Pound-Rupee103.88600.23300.22
Rupee-100 Yen0.67900.00060.09