LIC is next on Disinvestment List; expected to sell a 5-10% stake
Earlier in July, the Government approved an IPO (initial public offering) of India's largest insurer LIC.
Image credit: Reuters
New Delhi: After the sale of national carrier airline of India, Air India to Tata Group now fueled the privatisation process and open ways for the faster disinvestment process for the next public firm Life Insurance Corporation (LIC).
It is noted that officials mentioned an effective valuation exercise of LIC by November-December.
The government is expected to sell a 5-10% stake in LIC and raise around 900 billion rupees in what could be India's biggest listing. The company has long been considered a strategic asset, commanding more than 60% of India's life insurance market with 36 trillion rupees of assets under management, according to Reuters.
Earlier in July, the Government approved an IPO (initial public offering) of India's largest insurer LIC.
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