Before going for an IPO, LIC has to clear some thorns in its path. The pandemic made it tougher.
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LIC head office in Mumbai, Maharashtra
Synopsis
Even as it gears up for the mega event slated for the end of this financial year, the state-run insurer’s weak financials in the wake of the Covid-19 pandemic could play spoilsport, not to mention a host of other challenges like the lack of transparency and its stake in IDBI Bank.
When a behemoth with a balance sheet of over INR31 lakh crore decides to get listed, it’s easy to see why it could be one of the largest initial public offers (IPO) the country has seen. Not just that, the Life Insurance Corporation’s IPO is expected to contribute around INR80,000 crore to the government’s budgeted disinvestment kitty of INR2.10 lakh crore for the current fiscal. But even as it gears up for the mega event slated for the end of
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