LIC IPO Launch Date 2022 Modi Government On IPO LIC IPO Details

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LIC IPO Update: Public sector insurer Life Insurance Corporation of India (LIC) took more time than expected for its valuation, its initial public offering (IPO) is unlikely to come in the current financial year. A senior official of a merchant banker, who is involved in the preparations for the IPO, says that the work of valuation of this huge public company is not yet complete and it may take some more time. Even after the completion of the evaluation work, it will take time to complete many regulatory processes related to the issuance.

IPO will come in January-March quarter
DIPAM, the department that looks after the government’s stake in state-owned companies, has entrusted the task of valuation of LIC to Milliman Advisors. Meanwhile, Secretary, Department of Investment and Asset Management (DIPAM) Tuhin Kant Pandey expressed confidence that the IPO of LIC will be brought in the quarter of January-March 2022. He said in one of his tweets on Sunday that the procedural preparations related to the IPO are going well.

Know what is the claim of the officials
Contrary to this government claim, that official of the merchant banker says that before bringing the IPO, the permission of the market regulator Securities and Exchange Board of India (SEBI) will have to be taken. Apart from this, permission will also have to be taken from the Insurance Regulation and Development Authority of India (IRDAI), the regulatory body of the insurance sector. It is worth noting that the post of IRDAI chief has been lying vacant for almost seven months.

Act has already been amended
The government has already amended the LIC Act for the listing of LIC. Under the new provisions, the government will continue to hold a minimum 75 per cent stake in LIC for the first five years of listing, but after that the limit will come down to 51 per cent.

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