Life Insurance Corporation’s IPO (Initial Public Offering) will come on the market in the next financial year. To meet the disinvestment target, the government will soon list LIC in the stock market and then through the IPO, the company’s financial position will be ascertained.
Delhi: The Finance Minister has announced during the budget speech that the government is going to bring the IPO of Life Insurance Corporation of India soon to fulfill the target of disinvestment. The Modi government had also announced this matter last year but due to Corona, the process could not be completed.
What does LIC IPO mean
Like last year, Finance Minister Nirmala Sitharaman has mentioned the IPO of LIC in the budget speech this year . This will mean that the government will list LIC in the stock market and will find out the economic value of the company through an IPO. In last year’s budget speech, Finance Minister Nirmala Sitharaman had said that ‘LIC will continue to be fully owned by the government. After the listing, the economic status of the company will be ascertained through an IPO and this will be done because the government wants to make retail investors also its shareholders.
The Modi government is putting full emphasis on disinvestment. Finance Minister Nirmala Sitharaman has announced that in 2021-22, the government wants to earn Rs 1.75 lakh crore through disinvestment. Last year, due to Corona, the government has not been able to meet the disinvestment target (Rs 2.1 lakh crore). The shortfall that has been left in the last year, the government will try its best to fill that gap in 2021-22.
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