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INTERVIEW | Confident Of Listing LIC, Selling BPCL, Air India In FY22, Says DIPAM Secretary Tuhin Kanta Pandey
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BPCL, Air India stake sale by September; LIC IPO post October, says DIPAM Secretary
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The initial public offering (IPO) of India s largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government s divestment calendar that includes completing the sale of flag carrier Air India and oil firm BPCL within the first half of the next fiscal. Targeting to raise ₹1.75 lakh crore from the asset sale to finance projects aimed at reviving the pandemic battered economy, the government is also looking to sell Shipping Corp of India (SCI), IDBI Bank Ltd and two other public sector lenders in the fiscal year beginning April 1.
The initial public offering (IPO) of India s largest insurance company LIC is likely after October this year, a top official said on Tuesday laying out the government s divestment calendar that includes completing the sale of flag carrier Air India and oil firm BPCL within the first half of the next fiscal. Targeting to raise Rs 1.75 lakh crore from the asset sale to finance projects aimed at reviving the pandemic battered economy, the government is also looking to sell Shipping Corp of India (SCI), IDBI Bank Ltd and two other public sector lenders in the fiscal year beginning April 1. In an interview with PTI, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said the government has introduced the legislative amendments required for disinvestment of a stake in Life Insurance Corporation of India (LIC) and IDBI Bank through the Finance Bill, 2021 presented along with the Budget on Monday.
LIC IPO likely after Oct; BPCL, Air India disinvestment by Sept: govt official
The government has introduced the legislative amendments required for disinvestment of a stake in LIC India and IDBI Bank through the Finance Bill, 2021 presented along with the Budget on Monday, says DIPAM Secretary Tuhin Kanta Pandey
BusinessToday.In | February 2, 2021 | Updated 19:58 IST
LIC IPO is expected to be rolled out after October this year
The highly anticipated IPO of insurance behemoth Life Insurance Corporation of India (LIC) is expected after October this year, according to a top government official. Sharing details about the government s divestment calendar, the official said that the proposed stake sale in state-owned carrier Air India and oil firm BPCL would be completed within the first half of the financial year 2021-22.
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