The stock market has remained a major indicator of the country’s investment sentiments. And any level of positivity in the share market always brings a smile even on those faces who doesn’t understand the stock market movement but are keen to experience the economic growth of the country. Stock market in last few months have shown great action and the next big thing on the financial scenario of the country is definitely going to be the Life Insurance Corporation of India’s IPO.
The LIC has, over the past so many years, played companion to a good number of people across the country. It’s like almost everyone has opted for some cover offered by the life insurer and people continue to be part of the LIC scheme of things even after so many private insurers had made their advent.
Union Finance MInister, Mrs. Nirmala Sitharaman conducted a high level review meeting with various stakeholders of the LIC IPO which is scheduled for the last week of January 2022. IN her review meeting she discussed and prompted every possibility of making this IPO a grand success in the stock markets.
Now with the Union government having decided to let the LIC of India hit the market with an IPO, it is a big step ahead for the life insurer. The government is doing all it can to make the IPO a grand success. The upcoming LIC IPO will be offloading of up to 10% government stake and some fresh equity issuance by the insurer for business expansion plans.
In a tweet from Finance Ministry, it was mentioned that: “Union Finance Minister Smt. @nsitharaman reviewed the progress of the LIC IPO in New Delhi today (Friday) in presence of @SecyDIPAM; Secretary @DFS_India and Senior Officials @LICIndiaForever and @FinMinIndia via VC.”
Grand Push for LIC IPO from Finance MInistry
There is a slew of mega ventures being undertaken by the Centre in a bid towards this. If one looks at recent things in this regard, it becomes clear that there has been measures to adjust capital-markets rules, publishing of newspaper advertisements, messages to customers and more so as to ensure LIC of India’s initial public offering turns out to be a roaring success.
The IPO that has been lined up is being placed on a pedestal with expectations to raise close between Rs 40,000 crore and Rs 1 lakh crore this quarter. That itself makes it an astounding size.
Ref: DIGPU Newsletter