In her speech during the budget, Finance Minister Nirmala Sitharaman suggested that the LIC IPO would be launched in the financial year 2021-2022.
During the Union Budget 2021, Finance Minister Nirmala Sitharaman announced that the central government will introduce Life Insurance Corporation (LIC) IPO in 2022. It later came to light that the government was likely to reserve 10 per cent share of the LIC policyholders in the public issue. There has been a lot of interest both in the market and among investors about the same. Here's all you need to know about a possible launch date and other details around the LIC IPO:
1. LIC IPO launch date
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Even though the finance minister did not specify a particular date for the launch of LIC IPO during the Union Budget 2021, it is reported in the media that it is likely going to take place in October of this year. (Image: Reuters)
2. LIC IPO may raise around Rs 90,000 crores
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Since the budget announcement about the LIC IPO, speculations have been rife that the central government planned to raise around Rs 90,000 crores through the sale of six to seven per cent of its stakes in the LIC. The LIC is valued at around Rs 12.85-15 lakh crores. (Image: Reuters)
3. Finance Minister's Budget speech
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In the speech during the Union Budget 2021, Finance Minister Nirmala Sitharaman suggested that the LIC IPO would be launched in the financial year 2021-2022. (File image)
4. Government target for LIC IPO
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The central government is planning to raise 43 per cent of its net divestment target of Rs 2.1 lakh crores for the financial year 2021-22 through its stakes in the LIC. (File image)
5. Ahead of LIC IPO, one crore Demat accounts to be opened
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It is reported in various media reports that around one crore Demat accounts will be opened before the government launches the LIC IPO. (File image)
6. Air India also in line for divestment
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Air India is also in line for divestment. "All divestments announced so far, including Air India, BPCL, CONCOR, Pawan Hans, to be completed by 2022," said the finance minister during her budget speech. (File image)
