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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.

Bantwal, Jun 16: Two unmarred siblings committed suicide by self-immolation at Sangabettu in Bantwal taluk of Dakshina Kannada last night.

Neelayya Shettogar (42) and his sister Kesari (39) poured petrol on themselves before torching themselves at around 11 p.m. on June 15 inside a room of their house, police sources said. The siblings were reportedly facing health problems.

Neelayya's brother and latter’s wife were sleeping in the other room of the same house when the incident took place. They came to know only when they heard the screams of the duo.

Even though the siblings were rushed to the government hospital at Bantwal with the help of locals, the doctors declared them dead.

Bantwal rural police sub-inspector, Prasanna and staff visited the spot as part of investigation.

Mangaluru, Jan 10: To mark the Karavali Utsav the district administration held a colourful procession from Nehru Maidan to Karavali Utsav Grounds Lalbagh here on Friday.

The colourful procession was inaugurated by the District Minister In-charge Kota Srinivas Poojary by lighting the traditional lamp along with other dignitaries. Various troupes from all over the state are participating in the procession from Nehru Maidan to the Karavali grounds.

Addressing the gathering Kota Srinivas Poojary said, “Karavali Utsav is a meaningful festival. The Tradition and culture of Dakshina Kannada is very meaningful. By organizing Utsav’s we are highlighting our tradition and Culture to national and international levels.