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
The passion of young Ms Tabassum and Social Working of today, particularly, gives me lot of hope. It almost feels like the political class wants to bring down India while the people are so hard working and committed to nation building.
Congratulation Miss. Way to go.
PS: Media has been compromised and fake news factories churn out crap daily. Thanks CD for bringing this news to readers.
CONGRATULATIONS.
Mrs.Tabassum's service for humanity is highly commendable.She looks after HIV & AIDS effected children with compassion like mother without expecting anything in returns.
She is the alumni of JF managed Green View PU womens college at Derealakette.
She deserve for more prestigious awards even like "Padma Shri" for her selfless and sincere services for the society and the nation.
All the best.
Add new comment