Big News: Govt to accelerate IPO process of LIC

By Odisha Bhaskar Bureau On Jun 19, 2020 at 4:18 PM

The process of bringing an IPO of LIC-Life Insurance Corporation of India, the country’s largest insurance company, has been accelerated. The government has taken a big step to sell stake in the company. The Department of Disinvestment called for bids to appoint a Pre IPO Transaction Advisor. Its last date has been fixed for 13 July. Let us tell you that in the current financial year, the government has set a target of raising 2.10 lakh crore rupees by disinvestment. Out of this, 90,000 crore rupees have been expected to be got from LIC listing and IDBI Bank disinvestment.

LIC is the largest insurance company in the country. It has a 77.61 percent market share. It accounts for more than 70 percent of the total premium income.

After listing, LIC will become the largest company in the country- LIC can become the largest company in the country according to the market valuation after being listed in the stock market. Its market valuation can be from eight to 10 lakh crores.