It will open for anchor investors on March 11, while for other investors it will open after two days. In the first week of March, it will get all the approvals related to the regulator.
This IPO can come on March 11.
Big news is coming out about LIC IPO. Reuters quoted reliable sources as saying that this IPO will be worth $ 8 billion i.e. 60 thousand crores (according to $ 75 rupees). This IPO can be launched on March 11. It will open for anchor investors on March 11, while for other investors it will open after two days. In the first week of March, it will get all the approvals related to the regulator. After getting the approvals, the price band for the IPO will be decided. Reuters asked the Finance Ministry, LIC in this regard but no one has responded.
In any case, the government is trying to bring LIC’s IPO in the current financial year. According to the source, it is possible to change its schedule. By the way, every effort is being made to bring it on the estimated time in advance. LIC has submitted DRHP to SEBI. According to the IPO prospect, the government will sell its 5 percent stake in Life Insurance Corporation.
Privatization target reduced to 78 thousand crores
The government has reduced the target of disinvestment and privatization from 1.75 lakh crores to 78 thousand crores for the current financial year. So far the government has been able to collect only 13 thousand crores. In such a situation, she wants that by disinvesting LIC, she will collect more than 60 thousand crores, which will bring her closer to the new target of disinvestment.
BPCL did not get buyer
Due to Corona, the government could not find a buyer for BPCL. Apart from this, it could not even privatize two banks. In such a situation, the privatization plan of the government has suffered a major setback.
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