LIC IPO creating a buzz: FM
Union Finance Minister Nirmala Sitharaman on Tuesday in Mumbai said that LIC IPO has been eagerly awaited. “I think the way LIC IPO has been crafted has created a lot of interest,” she said.
Mumbai: Union Finance Minister Nirmala Sitharaman on Tuesday in Mumbai said that LIC IPO has been eagerly awaited. "I think the way LIC IPO has been crafted has created a lot of interest," she said.
She affirmed that that there was a buzz and interest on the public issue of the Life Insurance Corporation of India (LIC).
As per LIC DRHP, employees and policyholders of the insurance behemoth will get a discount over the floor price. The offer includes not more than 5 per cent reservation for its eligible employees and not more than 10 per cent for its policyholders. LIC policyholders who have one or more than one policy on the DRHP submission date (February 13) shall be eligible for claiming the quota benefit.
The FM said that there was a buzz and interest on the public issue of the Life Insurance Corporation of India (LIC) and the government will go ahead with it. The Finance Minister said this on her Post Budget Outreach Press Conference in Mumbai on Tuesday.
She said, "The monetization of national assets will add a lot to the cost of infrastructure, and from April 1 a more definite picture will emerge."
While announcing the Union Budget 2022-23, the FM had said that LIC IPO will be crucial in meeting the disinvestment target set by the central government in the fiscal ending in March. The Union Budget last year, set up a disinvestment target of Rs1.75 lakh crore. Replying to a query on the rise in the crude oil prices globally, Sitharaman said, "Increasing crude prices a challenge discussed at meeting on financial stability; will keep a watch on it."
She maintained that the fiscal deficit target projected for the next fiscal was at 6.9 per cent.
Taking about the Chitra Ramakrishnan episode of NSE, she only said that the probe was still on and she was looking into it.
In reply to a media query she said that small savings collection is a continuous we didn't find the need to go to market this time. She stressed that it is a dynamic situation. She was referring to the impact of the ongoing Ukrian crisis. However, she affirmed that there will not be any surprises for the market.
