LIC IPO: The government is expected to launch the initial public offering (IPO) of the country’s largest insurer Life Insurance Corporation (LIC) in the fourth quarter (Q4) of the ongoing financial year (FY22).
The listing of LIC will be crucial for the government to meet its disinvestment target. The government aims to mop up Rs 1.75 lakh crore in the current fiscal from minority stake sale and privatisation. Of the Rs 1.75 lakh crore, Rs 1 lakh crore is to come from selling the government’s stakes in public sector banks and financial institutions. The remaining Rs 75,000 crore would come as CPSE disinvestment receipts.