After the first time announcement of the LIC IPO by the Government, people are waiting for the opening date of the LIC IPO. The Narendra Modi Govt. is now planning to complete the initial public offering of LIC in the current financial year. On 19 July 2021 in Lok Sabha, Pankaj Chaudhary who is Minister of State of Finance has announced the public offerings of LIC IPO in this fiscal year.
You may remember Nirmala Sitharaman (Finance Minister of India) has already mentioned the IPO of LIC would be completed in this fiscal year 2021-2022.
The Government is already working on the issue of IPO in this financial year. This IPO will be the biggest IPO in Indian financial history. According to reports, the LIC IPO will also reserve a 10% stake for Policy Holders. The LIC is already working on creating the database of eligible policyholders. Currently, LIC has 29 crore policyholders and many people hold more than one policy. This process of creation of the database will take time to complete.
As you already know the Life Insurance Cooperation is India’s biggest insurance company and they are reserving a 10% quota for policyholders. It directly indicates that they are towards opening more than one crore new Demat accounts.
The finance ministry already inviting bids for their IPO from merchant bankers, the potential size of the IPO will be larger as expected than any previous IPO issue.
In the financial budget 2021-2022 the govt. has been set disinvestment of Rs. 1.75 lakh crore.
Finance Minister Nirmala Sitharaman has also said in her speech about the strategic disinvestment of IDBI Bank, BEML, Pawan Hans, BPCL, Air India, Shipping Corporation of India, Container Corporation of India, and Neelachal Ispat Nigam Ltd.
We hope your wait to apply for LIC IPO will be over after the announcement of the final date from the Government of India.