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India s Fallen Billionaires

India s Fallen Billionaires
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LIC: LIC cleans books of bad loans as it gets IPO-ready

Synopsis LIC’s IPO is expected to be the biggest in India with many analysts expecting a share sale in excess of Rs 1 lakh crore. Besides its sheer size, the corporation is seen as valuable given its share of new business and high persistency among its policyholders. Agencies According to sources, the corporation has fully provided for these loans and the sale would improve the quality of its portfolio. (This story originally appeared in on Jul 09, 2021)Mumbai: The Life Insurance Corporation of India (LIC) is cleaning up its books ahead of its initial public offering (IPO) later this year. The corporation, which brought down its net non-performing assets to 0.05% as of March 2021 from 0.79% as of March 2020, is now selling its fully provided NPAs.

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