New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.
Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.
A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.
According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.
Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.
"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.
Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.
Currently, the government owns the entire 100 per cent stake in LIC.
Saudi Aramco shares were listed in December last year.
Comments
No Surprise, its BD culture
Mirchi time.. Naren n frends please comment :D
SAAYALI BIDI,NAAI MATTU BEKKU HEEEEEEEEEE
Look at the safety of India, they all Mother f**kers will release from the police custody very soon and repeat the same thing again, God should save India from these goons of BJP/RSS /VHP/BD
I don't understand like Goa why can't our Sidhuji's government ban this nonsense, ruthless, barbaric, terrorist and rapist outfit....
all bajrangdal followers are robbers only if they have work and qualification they would be working in good Environment without disturbing the nation peace.
this s personal rivalry, but accused must be punished.
why mentioning groups name? this s nai pucha fight :)
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