IPO may come in October
Giving information, the DIPAM secretary said that the IPO of LIC can come after October 2021. Apart from this, the sale of state-run airlines Air India and oil company BPCL will be completed by the first half of the current financial year i.e. this year by sitankar.
Also read: Jeff Bezos wrote letter, information about leaving office, 1.3 million employees read his letter, know what he wrote …
Delay due to corona epidemic
In an interview to PTI, the secretary said that the legislative amendment has been introduced to reduce the stake in Life Insurance Corporation of India (LIC) and IDBI. Let us know that LIC’s IPO was to come last year, but it was delayed due to some reasons. It is believed that the IPO of LIC has been delayed due to Corona virus epidemic.
Stake will be sold in several stages
Let us tell you that the central government has decided to sell the stake in several stages. The government will sell its 25 percent stake. In the first phase, 10 percent stake will be sold. There is a plan to sell the remaining stake in its next phase. The government is expected to get more than Rs 2 lakh crore by selling 25 per cent stake.
DIPAM has appointed actuarial firm Milliman Advisor for the valuation of the company before the IPO of LIC. Whereas, Deloitte and SBI Capital have been appointed as pre-IPO advisors.
Also read: Noida Metro Rail Corporation is launching super fast service, now trains will not stop at these 10 stations
EoI to be submitted by 13 February
The Modi government has set a target of record capital expenditure in the next financial year to boost the economy. Money for additional resources will be raised through disinvestment and monetization. The Central Government has already received bids for Expression of Interest (EoI) to Air India and BPCL. For the Shipping Corporation of India (SCI), by February 13, the Expression of Interest (EoI) will be available.