The government on Sunday refuted media speculations around Life Insurance Corporation’s (LIC) initial public offering (IPO) and said that LIC is unlikely to come up with an IPO in the current financial year ending March 2022.
The Secretary, Department of Investment and Public Asset Management tweeted, “Some media speculations doubting the viability of LIC IPO in this financial year are not correct. It is reiterated that the plan is ready for IPO in the last quarter of this financial year.” “
The government is relying on listing of LIC IPO and strategic sale of BPCL to complete its disinvestment. Recently, while speaking about disinvestment, Finance Minister Nirmala Sitharaman had said that the government is making good progress.
This story has been published without modification in text from a wire agency feed.
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