ISRO has shipped a key payload of Chandraya-2

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.

Udupi, Jan 25: The accused, who planted a crude bomb at the Mangalore International Airport on January 20, was brought to Udupi on Saturday, to collect information, as part of the spot investigation, police said here.

According to police officials, accused Aditya Rao was brought to Karnataka Bank Kadiyali branch, where Rao had a Safe Locker. The team opened the locker and seized the documents, along with a Box.

They said the seized documents, along with the Box, will be sent to the FSL for investigation.

Feb 28: The Supreme Court on Friday granted more time to the Central Bureau of Investigation (CBI) to file a counter affidavit on a petition filed by Karnataka BJP leader and mining baron Gali Janardhana Reddy seeking permanent relaxation on his bail condition to allow him to visit Karnataka's Bellari and Kadapa in Andhra Pradesh.

A bench of Justices Arun Mishra and Indira Banerjee listed the matter for further hearing on March 16 after the CBI sought more time to do file the counter affidavit.

Earlier, the apex court had issued a notice to the CBI and sought its response on the plea.

Last year, the Court had allowed Reddy to visit the Ballari district for a period of two weeks to meet his father-in-law, who the petitioner claimed had suffered a stroke and also allowed him to move a bail modification application seeking permanent relaxation of his bail condition.

In January 2015, the Supreme Court had granted bail to Reddy in an illegal mining case involving Obulapuram Mining Company (OMC) on the condition that he will not visit any of the mining zones in Karnataka or Andhra Pradesh.

By the time he was granted bail, Reddy had already spent over three years in prison.

Reddy and his brother-in-law BV Srinivas Reddy, who was the Managing Director of OMC, were arrested by the CBI on September 5, 2011.