Even if the LIC IPO's launch is delayed, employees and policyholders of the insurance behemoth would get a discount over the floor price whenever the initial public offering opens for subscription.
The initial public offering (IPO) of India's biggest insurer Life Insurance Corporation of India (LIC) seems unlikely in this financial year 2021-22, sources told NDTV.
The government will not have to file fresh draft papers with markets regulator Securities and Exchange Board of India (Sebi) if the LIC's IPO is launched by May 12, PTI reported quoting an official.
The net profit of Life Insurance Corporation of India rose to Rs 234.91 crore in the third quarter of the current financial year from Rs 0.91 crore recorded in the corresponding period of last year.
The government is presently in the wait-and-watch mode because of the market volatility due to the Russia-Ukraine war and will decide on the timing of the LIC's IPO.