New Delhi: According to a report in The Times of India, Life Insurance Corporation of India (LIC) may start filing its draft papers for initial public offering (IPO) with the Securities and Exchange Board of India (SEBI) by the third week of January. ,
The report, quoting sources, said that top LIC officials shared the date of the public listing with global investors. However, it may be noted that Finance Ministry officials have said that the listing of LIC will be completed by FY22.
LIC’s IPO is the largest equity offering of Rs 1 lakh crore in India.
According to the report, LIC executives have told investors that the company is increasing its focus on non-participating products – for example pensions, annuities, health insurance, ULIPS – with its intention to diversify the product mix and increase its sales. as part of the plan. Existing non-participant. LIC also plans to launch new non-participating products.
There were reports that LIC IPO may also get delayed. With regard to reports of delay in LIC’s IPO, the government clarified its stand two weeks ago, dismissing speculations that it was ready to IPO in the last quarter of this financial year.
In a tweet, DIPAM Secretary Tuhin Kanta Pandey expressed confidence that LIC’s IPO plans are underway and will take place in the January-March quarter of 2021-22. It is reiterated that plans are ready for IPO in the last quarter of this financial year, he tweeted.
Apart from LIC, Byju’s, Ola, Delhivery and other companies are also planning to list in early 2022.
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