LIC IPO to hit markets by March; draft papers to be filed with Sebi by this month-end

NEW DELHI: The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said.
Finance minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry.
The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
“We are hopeful of filing the DRHP (draft red-herring prospectus) with Sebi by month-end or early-February. One thing is for sure that IPO will come before the end of the current fiscal,” the official told PTI.
LIC IPO is crucial for meeting the Rs 1.75-lakh crore disinvestment target set for the current financial year ended March 2022. So far this fiscal, Rs 9,330 crore has been mopped up through PSU…

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