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
Do you know who start the tippu jayanthi dear
This is the fact, a party built on corrupt ideology will not survive. The entire nation will know the truth.
What is their moral value of these guys who killed that person who sacrificed his whole life for the nation. What can we expect from these people. Until the past few years they were agreeing TIPU SULTAN as the best ruler, tiger of Mysore, and the man who taught to resist the invaders.
Just for the personal benefits, the same guys portray him negatively
People of such a mentality should be catalgorized as sick and mentally distorted group who should not be considered fit for election or make any policitical party.
The wise people should boycott such immoral party, Support the fair and the reliable party. If not available go for the least corrupt party.
Eddi is the only CM who spent his life in jail for corruption (not as a freedom fighter)
Think of our future geneations and our children,
God help our country from these corrupt group.
Dear Sandesh
if you want join with bjp policy no objecttion but don't involve Hindu religion. All Hindus are not as you wished.
During BJP govt all these communal leaders including cheddiyurappa was on the dias to celebrated Tipu Jayanthi so now what happen with different colour and tune.
Go with the history i/o rss book.
Jai Hind Jai Karnataka
Why all people blaming BJP. Why this govt cant avoid celebration
BJP leaders are mentally retarded people. Trouble makers
All Hindus should support BJP's decision
BJP openly said they will oppose. If they didnt say anything also they will do the same. They will make trouble as they did previous year
Govt should seek order from hc or sc for arresting all BJP goons
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