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
I heard mysore palaces belonged to Tippu Sultan. Later looted by then Maharajas. May be or May not be.
today you are alive because of the great tippu sultan, your kingdom is nothing in front of tippu army, now you speaking for publicity.
we salute only courage king not coward who hide behind wall.
Jealousy no medicine bro.
Yes Tipu punished all the desh drohis and one holded britishers tail for money and land. For the rest all he was a care taker and sincere ruler.
In most of the Mangalore surrounding peoples are still enjoying with their free earned wealth and propoerty.
But sachai hamesha kadvi lagti hai. a abhi ka duniya ka dastoot ban gaya
if your family ruled for people's welfare , tippu might not troble you
yes he troubled everyone
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