New Delhi, 13/3: The Centre aims to launch its $8 billion (Rs 61,258-crore) listing of state-run Life Insurance Corp (LIC) by mid-April, two government sources said, after delaying what will be the country’s biggest ever IPO from this month due to market volatility.
The government aims to raise more than $8 billion by selling a 5% stake in the country’s biggest insurance company. It had planned to launch it by the end of this fiscal year on March 31 but delayed the issue after Russia’s invasion of Ukraine made financial markets highly volatile.
“Most likely, LIC would now be listed by mid-April,” said a senior government official, with direct knowledge of the listing plans.
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