Indian Life Insurance Corporation (LIC) will be listed on the stock market by the end of the current financial year. This information was provided by a senior official of the Ministry of Finance. The government is expected to raise 500 billion rupees ($ 6.72 billion) from government companies in addition to listing LIC. The refiner is expected to complete the sale of Bharat Petroleum Corp Ltd (BPCL) and Air India.
Let us tell you that LIC is the country’s largest insurance company and its wholly owned government. While presenting the budget in February, Finance Minister Nirmala Sitharaman informed about the IPO of LIC. He said the government has set a target of investing Rs 1.75 lakh crore in the financial year 2021-22.
Expected amount: Recently, Chief Economic Advisor (CEA) KV Subramanian said that the government can only get Rs 1 lakh crore from the proposed IPO of LIC.
Strict: Banks will be penalized if there is no cash in the ATM
Earnings Opportunity: Retail investors are also waiting for LIC’s IPO. There may be an opportunity to make a profit through this IPO. When companies are going to be listed on the stock market, let us tell you that they bring an IPO before that.
