HomeBusinessGovernment Mulling Foreign Institutional Investment in Life Insurance Corporation

Government Mulling Foreign Institutional Investment in Life Insurance Corporation

Government Mulling Foreign Institutional Investment in Life Insurance Corporation

Government is contemplating permitting 20 per cent international institutional funding in LIC

The authorities is contemplating permitting international institutional funding (FII) of as much as 20 per cent in Life Insurance Corporation (LIC), in accordance with a authorities supply.

The itemizing of LIC is ready to be India’s greatest ever IPO, with the federal government aiming to lift as much as Rs 90,000 crore from its stake sale.

The Union Cabinet had not too long ago authorized the disinvestment of fairness in LIC and the method is on to nominate service provider bankers to launch the IPO.

The authorities has for the second time invited bids from legislation corporations to advise it on the mega preliminary public providing of LIC.

A panel headed by Finance Minister Nirmala Sitharaman will determine on the scale of the share sale.

For LIC’s IPO, the Centre had amended the LIC Act of 1956. After the modification, like another listed firm, the company, now ruled by the Companies Act and markets regulator Act (post-IPO), has to organize its quarterly steadiness sheet with revenue or loss figures and make public, key developments.

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