New Delhi: The initial public offering (IPO) of the country’s largest insurance company LIC may come after October this year. A top official indicated this in the government’s disinvestment plan on Tuesday. Apart from this, the sale of state-run airlines Air India and oil company BPCL will be completed by the first half of the current financial year i.e. this year by sitankar. Finance Minister Nirmala Sitharaman announced the IPO of LIC in the budget speech on Monday. The government plans to reduce its 25 per cent stake in LIC.
In an interview, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kant Pandey said that the government has passed the legislative necessary to reduce stake in Life Insurance Corporation of India (LIC) and IDBI through Finance Bill 2021 presented with the budget. The modification is introduced. Let us know that LIC’s IPO was to come last year, but due to some reasons it was delayed. It is believed that the IPO of LIC has been delayed due to Corona virus epidemic.
The Modi government has set a target of record capital expenditure in the next financial year to boost the economy. Money for additional resources will be raised through disinvestment and monetization. Initial interest of sale of BPCL and AI has been found. Similarly, for the Shipping Corporation of India (SCI), by February 13, the expression of interest will be available.
