What is the latest on the LIC IPO plans of the government?
Answer
Answer
LIC may tap the IPO market with Rs.50,000 crore issue before 12-May, when its approval expires. Post 12-May, LIC has to go for fresh actuarial valuation. The issue slated in Feb-Mar was put off due to geopolitical risk. This IPO will be about 3 times the size of the Paytm IPO. Valuation target is lower as the government intends to divest 7%.