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
Dear Shobha Karandlaje. This victim is a Beary. So kindly don’t include his name in your prolonged list of slain Hindu karyakarthas.
No anna the killers of RAO are BJP workers (minority sect) but BJP moved...this killer is a paid hitman,
Lesson for All Rowdy if we play with other life one day our life will end .. like tiz..
THAQDHEER BANA NE WALA KAM NAHEEN ! JIS KO KYA MILA WO MUQADDAR KI BAAT HAI
Cops wanted him dead.
That’s why he got bail.
Anyway this is a cleanup drive.
So many cases against him, really a big threat to the mangalore. Good Decision by police department :P
Inna Lillahi wa inna ilayhi raji'un,
Notorious rowdy died a dog’s death!
This may be the preplanned murder, big question is how he can get bail so soon.
No He was gang leader of Target Group.
Inna Lillahi wa inna ilayhi raji'un, how can he get bail so soon, need to question our Constituency?
out of contest! in mangalore no ending of murder?
Inna lillahi wa inna ilayhi raji'un, May allah grant him Jannah
Inna Lillahi wa inna ilayhi raji'un, dear brothers this s eye opener incident to all, pls leave peacefully.
is this same guy who killed Deepak Rao?
Youth dont understand the situation in mangalore. for every start thr will be a bad ending.
he recieved what he wanted.
Really sad but he was really a threat to the society.
Inna Lillahi wa inna ilayhi raji'un
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