Home Business LIC May File For IPO By 3rd Week Of January: Report

LIC May File For IPO By 3rd Week Of January: Report

by admin

New Delhi: The Life Insurance coverage Company of India (LIC) is prone to begin submitting its draft papers for preliminary public providing (IPO) with the Securities and Change Board of India (Sebi) by third week of January, in response to a report in The Instances of India.

Quoting sources, the report stated high LIC officers shared the date of the general public itemizing with world traders. Nevertheless, it might be famous that finance ministry officers have maintained that itemizing of the LIC could be accomplished by FY22.

The IPO of LIC is said to be the most important fairness providing in India at Rs 1 lakh crore.

In keeping with the report, LIC officers have advised traders the corporate is growing its deal with non-participating merchandise — pension, annuity, medical insurance, ULIPS for instance — as a part of its plan to diversify the product combine, and improve the gross sales of its current non-participating. LIC additionally plans to launch new non-participating merchandise.

There have been stories suggesting that LIC IPO may get delayed additionally. In connection to the stories of the delay within the IPO of LIC, the federal government two weeks earlier than had clarified its stance dismissing speculations saying it’s on track for the IPO within the final quarter of this fiscal 12 months.

In a tweet, DIPAM Secretary Tuhin Kanta Pandey expressed confidence that IPO plans of LIC are on track and it could occur within the January-March quarter of 2021-22. It’s reiterated that the plan is on track for the IPO within the final quarter of this fiscal 12 months, he tweeted.

Aside from LIC, Byju’s, Ola, Delhivery, and different firms are additionally planning to get listed in early 2022.

ALSO READ | $5-Billion Bonds Issue: Moody’s Assigns Baa2 Rating To Reliance

Source link

You may also like

Leave a Comment