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.
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what a tragedy & shame those people big, big business tycoon muslims honored this anti muslim or RSS dog Nalin kumar now go & suck his sandels fear peoples what the is use of wealth collecting one every should die then what will happen that your remainings. If your fear Allah, Allah will help you but you people pleasing this mushrik. You people must know one thing loylty & pleasing only only Allah no need others He is Enough.Go and open Quran check sura 9:111 & 2:254 you may think we safe pleasing of this kufar never they always waiting for chance this Allah clearly told in Quran. Those who made that Shame on all of you. Understand beliver safe only from ALLAH
This guy is a crook
were is muslim business guy who given big honouring party to MR NALINI kumar please convience him REJECT CAB AND NRC if you can
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