What is the progress happening on the proposed LIC IPO?
Answer
Answer
It looks like the LIC IPO is finally gathering steam with the government all prepared to invite bids from merchant bankers to manage the LIC disinvestment. DIPAM, the department handling the divestment of PSUs, has appointed Milliman Advisors LLP India as the actuarial advisors in order to assess the embedded value of LIC ahead of the IPO.
The details of the embedded value of LIC will be out in the next couple of weeks. All requisite regulatory approvals, including, changes to LIC Act, were combined with the Finance Bill and formalities will be done by Nov-21. The LIC IPO is what the government is betting on to achieve its ambitious Rs.175,000 crore divestment target for FY22.