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Cabinet clears plan for LIC IPO; listing proposed by March this fiscal.

Zomato IPO subscribed fully on Day 1.

The initial public offer (IPO) plan for Life Insurance Corporation (LIC) IPO is likely to have been cleared by Cabinet Committee for Economic Affairs (CCEA), The government has proposed to list LIC by March FY22, sources said. May be it will come in Dec 2021-Jan 2022 after getting the necessary clearance from SEBI with red-herring prospectus. It is a huge issue of over Rs 1 Lakh Croree and may be the first Mega issue IPO. Investors are advised to mobilise their savings and apply for it so as to get a good return.

The ministerial panel will decide on pricing and the quantum of government stake to be divested.

LIC is working on embedded value, internal efficiency and product restructuring.

While presenting Union budget for the financial year 2020-21, Finance Minister Nirmala Sitharaman had proposed to sell a part of the government stake in the insurance behemoth, Life Insurance Corporation of India.

The proposed stake sale will happen through an Initial Public Offer (IPO), she had said.

LIC, fully owned by the Indian government, is typically a big investor in share sales, including IPOs of state-run companies.

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