Home LIC- Life Insurance Corporation of India LIC expected to offer share sale to SEBI by month-end

LIC expected to offer share sale to SEBI by month-end

164
0
LIC expected to offer share sale to SEBI by month-end
LIC expected to offer share sale

LIC expected to offer share sale: The much-awaited initial sale of shares of Life Insurance Corporation of India (LIC) is expected in the current financial year and the process is moving in that direction. In the third or last week of the current month, DRHP Corporation is likely to submit a draft proposal for open share sale to the Securities and Exchange Board of India (SEBI).

LIC expected to offer share sale

According to sources, LIC officials have indicated the date of possible share sale to global investors. He also told the Finance Ministry officials that preparations were on to list the shares of LIC in the capital market before the end of the current financial year i.e. March.

See Alsoa | WhatsApp accepts payments in cryptocurrency? WhatsApp trials in-app cryptocurrency payments using Meta

Largest Indian investor

The launch of capital markets by the largest Indian investor will be a memorable event not only for 2022 but also in history, with LIC raising around Rs 1 lakh crore from the proposed sale.

Raising revenue of Rs 1.75 lakh crore through disinvestment

In the current financial year, if the central government is to achieve its budget target of raising revenue of Rs 1.75 lakh crore through disinvestment, it is imperative that some of the state-owned shares in LIC be sold through an open initial public offering [ IPO ]. Go.

Read Also | Why is the government privatizing public sector banks that do so much? , Why are PSU banks important for our country and why employees are opposing its privatization?

Process of privatization of public sector companies

LIC expected to offer share sale to SEBI by month-end
LIC expected to offer share sale

The process of privatization of public sector companies, which has been stalled for some time due to the effect of the second wave of Corona, is unlikely to be fully successful due to Omicron’s concerns.

The government is planning to seek letters of intent from potential investors in the last quarter of January-March 2022 regarding the privatization of six PSUs, including Bharat Petroleum, BEML and Shipping Corporation.

Read Also | Huge fall in gold prices 2022: What is the current situation? , Gold Rate Today 4th January 2022

Privatization of two state-owned banks

As proposed in the budget, privatization of two state-owned banks and one general insurance company is unlikely this year, and certainly has been delayed.

LEAVE A REPLY

Please enter your comment!
Please enter your name here