markets
How much will LIC IPO help with the disinvestment target?
Apr 28, 03:04

The initial public offering (IPO) of Life Insurance Corporation of India (LIC) is finally close to becoming a reality. But the ongoing global financial market turmoil means the government won't get as much money as hoped initially. At the time of filing of the Draft Red Herring Prospectus in the first half of February, there was talk of the Centre getting as much as Rs 60,000 crore from LIC's IPO. Now, the number has shrunk by nearly a third to Rs 21,000 crore. Whatever the reasons, one thing is clear: the government will have to put in far more work to achieve its FY23 disinvestment target of Rs 65,000 crore.

 

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