LIC IPO Launch Date: Investors were waiting for LIC’s IPO. Meanwhile, the Central Committee on Economic Affairs (CCEA) has approved the plan for LIC’s IPO.
Launch of the LIC Initial Public Offering (IPO) in New Delhi: In her budget for the fiscal year 2021-22, Union Finance Minister Nirmala Sitharaman said that the government would sell a portion of its ownership in the public sector insurance company Life Insurance Corporation of India (LIC). The government’s interest in LIC will be sold through an initial public offering, according to the Finance Minister. Since then, investors have been anticipating LIC’s initial public offering (IPO). Meanwhile, the proposal for LIC’s initial public offering (IPO) has been authorized by the Central Committee on Economic Affairs (CCEA).
Country’s biggest IPO
The barrier to establishing an IPO has now been lifted. It is believed that investors’ wait would come to an end in March 2022, when they will be able to earn money by investing in LIC’s first public offering. Before the IPO, the Center has chosen SBI Capital Markets and Deloitte as consultants. This is likely to be the country’s largest initial public offering (IPO) to date.
The ministerial committee will make all decisions.
In March 2022, the central government plans to launch LIC’s initial public offering (IPO). According to information obtained from sources, a panel of ministers will make all LIC-related decisions. This panel will also decide how many shares will be sold in LIC. The committee will also determine the number of shares that will be sold in the market. LIC is always looking for ways to improve its worth.
Investing in a private company for the first time
This is significant since it is the first time LIC has invested in a private enterprise. In the current fiscal year, the central government wants to raise Rs 1.75 lakh crore through disinvestment and privatisation. LIC’s total assets at the end of the financial year 2019-20 were Rs 32 lakh crore, according to its annual report. In the house insurance business, LIC has a market share of over 70%. The government presently owns all of the company’s shares. Let us point you that LIC also invests in several government entities.