In the budget, the government has announced that the IPO of LIC will come this year. It will take time for the IPO to come, but before that LIC policy holders are going to get a big gift. It is being told that LIC policy holders will get 10 percent reservation in purchasing IPO.
Delhi: Good days are coming for LIC policy holders. This is not because LIC has launched a very good plan. In fact, the reservation quota of policy holders can be fixed in the plan that the government is planning to bring LIC’s IPO.
What percentage can the quota be
According to the news, the quota of 10 percent in the IPO can be fixed for the policy holders of LIC. According to Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) in the Union Ministry of Finance, just as retail investors get a 10 per cent reservation in the IPO of a government company, the policy holders of LIC are also reserving in the IPO. will get.
What does LIC IPO mean
Like last year , Finance Minister Nirmala Sitharaman has mentioned the IPO of LIC in the budget speech this year . This will mean that the government will list LIC in the stock market and will find out the economic value of the company through an IPO. In last year’s budget speech, Finance Minister Nirmala Sitharaman had said that ‘LIC will continue to be fully owned by the government. After the listing, the economic status of the company will be ascertained through an IPO and this will be done because the government wants to make retail investors also its shareholders.
Disinvestment policy announced
Modi government is putting a lot of emphasis on disinvestment. Finance Minister Nirmala Sitharaman has announced that in 2021-22, the government wants to earn Rs 1.75 lakh crore through disinvestment. Last year, due to Corona, the government has not been able to meet the disinvestment target (Rs 2.1 lakh crore). The shortfall that has been left in the last year, the government will try its best to fill that gap in 2021-22.
How far has the disinvestment process reached
According to Tuhin Kant Pandey, the government has introduced necessary legislative amendments for disinvestment of stake in Life Insurance Corporation of India (LIC) and IDBI Bank (IDBI Bank) through Finance Bill Finance Bill. The Modi government has set a target of record capital expenditure in the next financial year to get the economy out of the trouble. The government has also received letters of interest (EOIs) from prospective buyers for Bharat Petroleum Corporation Limited (BPCL) and Air India (Air India).
