Daily Expert News
No Result
View All Result
Sunday, May 29, 2022
  • Login
  • Register
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
Daily Expert News
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
No Result
View All Result
Daily Expert News
No Result
View All Result
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
Home Economy

LIC IPO Delayed Until FY23? Govt Likely To Reassess India’s Mega IPO’s March Listing

by Nick Erickson
March 3, 2022
in Economy
132 1
0
Additional capital support to IDBI Bank may adversely affect LIC: DRHP
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


The government may postpone the mega-initial public offering (IPO) of Life Insurance Corporation until next fiscal year as the government is likely to hold a meeting to reassess the timing of the IPO in view of the escalating war between Russia and Ukraine , sources told CNBC TV18.

The government will continue its public offering roadshows, a government official said. LIC’s IPO is considered the largest public offering by an Indian company and is touted as a globally viewed public listing.

A government official aware of the development has said the LIC list review meeting will be held “this week”. recent interview with Hindu Business Line, where she suggested the emerging global situation could warrant a rethink of IPO timing.

“Ideally, I’d like to go through with it because we’d been planning it for a while based on purely Indian considerations,” Sitharaman told the paper, adding that “if global considerations warrant looking at it, I wouldn’t mind to look at it again”.

LIC IPO: impact of the delay

The conflict in Eastern Europe has impacted global equity markets, including the BSE Sensex and NSE Nifty, and international oil prices. Several experts have warned that global inflation levels could rise as a result of the Russian invasion of Ukraine.

ADVERTISEMENT

The review could affect the timing of India’s largest mega public offering, which formed the bulk of the country’s asset sale program aimed at eliminating the fiscal deficit for the year to with March 31, 2022.

Furthermore, the postponement of the LIC’s IPO could affect bond prices and also negatively affect the rupee, which is teetering under pressure from the Russian invasion of Ukraine.

ADVERTISEMENT

LIC IPO: What Do Analysts Say?

ADVERTISEMENT

dr. VK Vijayakumar, chief investment strategist at Geojit Financial Services, said of a likely slowdown in India’s mega IPO: “The current weak global market environment is not the ideal setting for a mega IPO of the size of LIC. The government will likely postpone it until FY23. Delay is better than an IPO that flops.”

LIC IPO: stage ready for market debut

Last week, the Union cabinet chaired by Prime Minister Narendra Modi allowed up to 20 percent foreign direct investment (FDI) via automatic route in IPO-bound LIC with the aim of facilitating the divestment of the country’s largest insurer.

Life Insurance Corporation set the stage for the largest-ever public offering in the country on Feb. 13 and filed draft documents with capital market regulator Sebi on Feb. 13 for the sale of a 5 percent stake by the government for an estimated Rs 63,000 crore.

According to the draft red herring prospectus (DRHP), the embedded value of LIC, which is a measure of consolidated shareholder value in an insurance company, has been pegged at approximately Rs 5.4 lakh crore by the international actuarial firm Milliman as of September 30, 2021. advisors.

The public issuance of LIC would be the largest IPO in the history of the Indian stock market. Once listed, LIC’s market valuation would be comparable to top companies such as RIL and TCS.

So far, the amount mobilized from Paytm’s IPO in 2021 was the largest ever at Rs 18,300 crore, followed by Coal India (2010) at nearly Rs 15,500 crore and Reliance Power (2008) at Rs 11,700 crore.

Read all the latest news, breaking news and live updates from the elections here.

Tags: DailyExpertNewsdelayedFY23GovtIndiasIPOIPOsLIClistingMarchMegaReassess

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
ADVERTISEMENT

Related Posts

Transport Corporation posts 38% increase in profit after tax to Rs 73 Crore for the March quarter
Economy

Transport Corporation posts 38% increase in profit after tax to Rs 73 Crore for the March quarter

May 29, 2022
Venus Pipes and Tubes IPO GMP Today, Listing Date, What Experts Say About Listing Gains
Economy

Ethos IPO GMP; What investors can expect from a listing on Monday

May 29, 2022
Mahindra And Mahindra Q4 Profits Increased Fivefold To Rs 1,192 Crore
Economy

Mahindra And Mahindra Q4 Profits Increased Fivefold To Rs 1,192 Crore

May 28, 2022
Venus Pipes and Tubes IPO GMP Today, Listing Date, What Experts Say About Listing Gains
Economy

Aether Industries IPO GMP Today, Share Allocation Date, Listing Date; Key details

May 28, 2022
Adani Wilmar Crosses 1 Lakh Crore in MCap After Soaring 247% Since Listing
Economy

Adani Enterprises to acquire a 50% stake in Bengaluru-based general aviation

May 27, 2022
Steel stocks: Tata Steel down 14%, JSW hits lower circuit; What are they falling today?
Economy

Hindalco shares are up 6% as fourth quarter earnings double to Rs 3,851 crore; What should investors do?

May 27, 2022
  • Trending
  • Comments
  • Latest
Live updates: Russia invades Ukraine

Ukraine pledges ‘immediate investigation’ after video surfaced of soldiers shooting Russian prisoners

March 28, 2022
An Anaconda's Playdate With Dolphins Took a Strange Turn

An Anaconda’s Playdate With Dolphins Took a Strange Turn

May 2, 2022
'Better Call Saul' Season 6, Episode 2: Do the Hustle

‘Better Call Saul’ Season 6, Episode 2: Do the Hustle

April 19, 2022
And now the $200,000 facelift

And now the $200,000 facelift

May 3, 2022

Hello world!

0
NDTV News

IT startup Fareye aims to change Unicorn within a year, founder says

0
How did Stephanie Murphy, a holdout on Biden's agenda, help save it?

How did Stephanie Murphy, a holdout on Biden’s agenda, help save it?

0
How did Stephanie Murphy, a holdout on Biden's agenda, help save it?

How did Stephanie Murphy, a holdout on Biden’s agenda, help save it?

0
NDTV News

Four Mumbai family members among 22 people aboard plane that crashed in Nepal

May 29, 2022
Gujarat Board Results 2022: GSHSEB likely to announce Class 10 results in second week of June

Gujarat Board Results 2022: GSHSEB likely to announce Class 10 results in second week of June

May 29, 2022
GT vs RR, Indian Premier League 2022 - Will Jos Buttler break Virat Kohli's IPL record? Not today, says Harbhajan Singh | Cricket News

GT vs RR, Indian Premier League 2022 – Will Jos Buttler break Virat Kohli’s IPL record? Not today, says Harbhajan Singh | Cricket News

May 29, 2022
Deepika Padukone's Hand Embroidered Statement Collar Made of 1200 Pearls and 200 Crystals

Deepika Padukone’s Hand Embroidered Statement Collar Made of 1200 Pearls and 200 Crystals

May 29, 2022
ADVERTISEMENT

Recent News

NDTV News

Four Mumbai family members among 22 people aboard plane that crashed in Nepal

May 29, 2022
Gujarat Board Results 2022: GSHSEB likely to announce Class 10 results in second week of June

Gujarat Board Results 2022: GSHSEB likely to announce Class 10 results in second week of June

May 29, 2022

Categories

  • Africa
  • Americas
  • art-design
  • Arts
  • Asia Pacific
  • Astrology News
  • books
  • Books News
  • Business
  • Cricket
  • Cryptocurrency
  • Dance
  • Dining and Wine
  • Economy
  • Education & Career
  • Europe
  • Fashion
  • Food
  • Football
  • Gadget
  • Gaming
  • Golf
  • Health
  • Hot News
  • India
  • Indians Abroad
  • Lifestyle
  • Markets
  • Middle East
  • Most Shared
  • Motorsport
  • Movie
  • Music
  • New York
  • Opinion
  • Politics
  • press release
  • Real Estate
  • Review
  • Science & Space
  • Sports
  • Sunday Book Review
  • Tax News
  • Technology
  • Television
  • Tennis
  • Theater
  • Top Movie Reviews
  • Top Stories
  • Travel
  • Uncategorized
  • Web Series
  • World

Site Navigation

  • Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links

We bring you the Breaking News,Latest Stories,World News, Business News, Political News, Technology News, Science News, Entertainment News, Sports News, Opinion News and much more from all over the world

©Copyright DailyExpertNews 2022

No Result
View All Result
  • Contact Us
  • Home
  • Top Stories
  • World
  • Economy
  • Business
  • Opinion
  • Markets
  • India
  • Education & Career
  • Arts
  • Advertisement
  • Tax News
  • Markets

©Copyright DailyExpertNews 2022

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.