LIC IPO: On the front page of the country’s leading newspapers, advertisements are constantly being given about LIC’s IPO so that more than 25 crore policyholders can buy LIC’s stake.
LIC IPO: Preparations are being made to bring the IPO of the country’s largest life insurance company LIC. Regarding this, advertisements are being given on the front page in the major newspapers of the country so that more than 25 crore policyholders can buy the stake of LIC. According to market experts, LIC’s IPO can prove to be an Aramco moment for India in a way. Aramco is a giant Gulf oil company, whose listing of $ 2,944 million (Rs 2.19 lakh crore) is the largest in the world.
The prospectus of LIC’s IPO may be filed with the market regulator SEBI in the last week of this month starting January 31. Union Finance Minister Nirmala Sitharaman has set the deadline for listing till March. LIC has more than 2 thousand branches and more than 1 lakh employees.
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LIC IPO may change India’s global image
LIC has assets of about $ 50 thousand crore (Rs 37.20 lakh crore) and its value is about $ 203 thousand crore (Rs 15.12 lakh crore). Through IPO, LIC can raise $ 1 thousand crore (Rs 74.38 thousand crore), which in a way will be the third largest insurance company in the world. After the IPO, the government’s stake in it can be reduced by at least 5 percent. According to Jens Beeland Rogers, chairman of Beeland Interests Inc and Rogers Holdings, India’s global image may change after the listing. Rogers has been investing in emerging markets for the past few decades. This could strengthen PM Modi’s image of a market-oriented reformer ahead of the upcoming elections and help reduce the budget deficit as well.
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These are the questions and challenges
- One of the challenges regarding LIC’s IPO is to attract foreign investors. The ten bankers managing the listing have held discussions with almost all large funds including GIC RE, Canada Pension Plan Investment Board, BlackRock Inc and Abu Dhabi Investment Authority.
- There are questions in the minds of investors regarding IPO whether LIC will get more autonomy after listing.
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