Insta
LIC Disinvestment: Govt Planning To Invite Bids From Merchant Bankers This Month; IPO Likely By January Next year
Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman.
The central government is set to call for bids from merchant bankers in July to manage the disinvestment of the Life Insurance Corporation of India (LIC), as the government plans to launch its initial public offering (IPO) by January.
Milliman Advisors LLP India was appointed by the Department of Investment and Public Asset Management (DIPAM) in January to evaluate the LIC’s embedded value prior to the IPO.
As per this method, the insurance company’s current value of future profit is also included in its present net asset value (NAV).
Around 10 per cent of the LIC IPO issue size will be reserved for policyholders and this is likely to be the biggest public issue in the history of the corporate India.
So far, SBI Caps and Deloitte have been nominated as the pre-IPO transaction advisors for the life insurer. The public listing of the LIC is integral for the central government to meet its massive Rs 1.75 lakh crore disinvestment target for FY 2021-22.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
