LIC headquarters (File Picture| PTI) By PTI NEW DELHI: The federal government is unlikely to provide you with the IPO of Life Insurance coverage Company (LIC) within the present monetary 12 months ending March 2022, because the valuation of the state-owned behemoth is taking greater than anticipated time, and preparatory work remains to be removed from full. There are nonetheless some points that must be addressed with regard to the valuation of LIC, a senior official of one of many service provider bankers mentioned. Even after the valuation, there are a number of regulatory processes which have concluded, the official mentioned. The official added that the preliminary public providing (IPO) requires vetting not solely by the Securities and Trade Board of India (Sebi) but additionally the Insurance coverage Regulatory and Improvement Authority of India (Irdai) that has been headless for nearly seven months. Valuation of LIC is a posh course of due to its dimension, product combine, actual property property, subsidiaries and profitability sharing construction, and the scale of share sale relies on the valuation, one other official mentioned. Given the variety of regulatory procedures to be fulfilled, the official mentioned it could be troublesome to satisfy the deadline of the fourth quarter of the present fiscal by any stretch of creativeness. The federal government is banking on the itemizing of LIC IPO and BPCL strategic sale for assembly its disinvestment goal of Rs 1.75 lakh crore.
Not too long ago, talking about disinvestment,» Read more from www.newindianexpress.com