Positive buzz in the air about LIC IPO: Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman has said there is a "positive buzz in the air" following the filing of the Life Insurance Corp of India's (LIC) draft red herring prospectus (DRHP).

"A big decision like this is never a knee-jerk reaction. It is done with consciousness... And I can see after the announcement, the reception, there is a buzz in the air," Sitharaman told reporters on February 14 following the conclusion of the Reserve Bank of India's (RBI) board meeting.

Sitharaman has said the positivity about the LIC IPO is "so required when you are doing things with the stock market".

LIC issue size could range from Rs 53,500 crore to Rs 93,625 crore

LIC filed it's DRHP with the Securities and Exchange Board of India late February 13 ahead of its hotly-awaited initial public offering.

Sitharaman refused to be drawn into questions about how much money the government was looking to raise from the LIC IPO.

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"It is a little bit too early to ask that," the finance minister said.