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By Malvika Gurung
Investing.com — Amid the annoying Russia-Ukraine disaster, stories stating that the Authorities might possible meet within the week to reassess the timing of the much-awaited state-owned LIC’s preliminary public providing (IPO) launch, have surfaced.
As per sources aware of the matter, the federal government might meet additional within the week to take a look at the timing of LIC’s IPO scheduled for later in March 2022, and the preliminary share sale may very well be deferred to the upcoming monetary yr 2022-23, said a CNBC TV-18 report.
If pushed to the following monetary yr, the federal government’s annual disinvestment targets of FY22, revised at Rs 78,000 crore will likely be severely impacted, of which roughly Rs 60,000 crore is but to be met by the state-owned insurer’s IPO.
In a latest interview with the Enterprise Line, Finance Minister Nirmala Sitharaman said that although the Govt had deliberate the timing of the nation’s largest IPO based mostly upon Indian concerns, it could not flinch from reassessing the identical amid international concerns.
Talking concerning the affect of delaying LIC IPO resulting from geopolitical unrest, Sitharaman stated, “When a non-public sector promoter takes this name, he has to solely clarify this to the corporate’s board, however I must clarify it to the entire world.”
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