Cabinet nod for LIC IPO! The biggest IPO will launch on this day, investors’ silver

LIC IPO Launch Sitharaman Date: Union Finance Minister Nirmala Sitharaman in the budget for the financial year 2021-22 had announced to sell some stake of the government in the public sector insurance company Life Insurance Corporation of India (LIC). The Finance Minister had said that the government stake in LIC will be sold through IPO. Since then, investors were waiting for LIC’s IPO. Meanwhile, the Central Committee on Economic Affairs (CCEA) has approved the plan for LIC’s IPO.

Country’s biggest IPO

Now the hurdle of launching the IPO has been removed. It is expected that in March 2022, the wait of investors may end, that is, in March 2022, by investing money in LIC’s IPO, there can be a chance to earn money. The Center has selected SBI Capital Markets and Deloitte as advisors ahead of the IPO. It is expected that this will be the biggest IPO in the country so far.

All decisions will be taken by the committee of ministers

The central government is preparing to launch LIC’s IPO in March 2022. According to the information received from the sources, the panel of ministers will take all the decisions related to LIC. This panel will also decide how many shares will be sold in LIC. The committee will also decide how many shares will be brought into the market. LIC is continuously working towards increasing its value.

investing in a private company for the first time

Significantly, this is happening for the first time that LIC will invest in a private company. The central government has set a target of raising Rs 1.75 lakh crore through disinvestment and privatization in the current financial year. According to the annual report released by LIC, its total assets at the end of the financial year 2019-20 are Rs 32 lakh crore. LIC’s market share in the home insurance sector is close to 70 percent. The government currently holds a 100 percent stake in the company. Let us tell you that LIC also invests in different government companies.