{"id":14058,"date":"2022-01-07T19:04:58","date_gmt":"2022-01-07T13:34:58","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/"},"modified":"2022-01-07T19:13:30","modified_gmt":"2022-01-07T13:43:30","slug":"biz-fm-lic-ipo","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/","title":{"rendered":"Sitharaman reviews progress on planned mega LIC IPO"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3101968606\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Jan 7 (PTI) Finance Minister Nirmala Sitharaman on Friday reviewed the progress of the planned disinvestment of the country&#8217;s largest insurer LIC.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2298977269\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The initial public offering (IPO) of Life Insurance Corporation (LIC), touted to be the biggest ever in the country&#8217;s history, is expected to hit the markets by March.<\/p>\n<p> &#8220;Union Finance Minister Smt. @nsitharaman reviewed progress of the LIC IPO in New Delhi today in presence of @SecyDIPAM; Secretary @DFS_India and Senior Officials @LICIndiaForever and @FinMinIndia via VC,&#8221; the finance ministry tweeted.<\/p>\n<p> LIC IPO is crucial for meeting the Rs 1.75-lakh crore disinvestment target set for current fiscal (April-March). So far this fiscal, Rs 9,330 crore has been mopped up through PSU disinvestment.<\/p><div class=\"trade-content_5\" id=\"trade-3976002563\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The government in September last year appointed 10 merchant bankers, including Goldman Sachs (India) Securities Pvt Ltd, Citigroup Global Markets India Pvt Ltd and Nomura Financial Advisory and Securities (India) Pvt Ltd to manage the mega IPO of the country&#8217;s largest insurer\u00a0LIC.<\/p>\n<p> Other selected bankers include SBI Capital Market Ltd, JM Financial Ltd, Axis Capital Ltd, BofA Securities, J.P. Morgan India Pvt Ltd, ICICI Securities Ltd, and Kotak Mahindra Capital Co Ltd.<\/p>\n<p> Cyril Amarchand Mangaldas has been appointed as legal advisor for the IPO.<\/p>\n<p> The government is in the process of deciding the quantum of government stake that will be divested through the IPO.<\/p>\n<p> The government is also mulling to allow foreign investors to pick up stakes in LIC. As per Sebi rules, foreign portfolio investors (FPI) are permitted to buy shares in a public offer. However, since the\u00a0LIC\u00a0Act has no provision for foreign investments, there is a need to align the proposed LIC\u00a0IPO with Sebi norms regarding foreign investor participation.<\/p>\n<p> The Cabinet Committee on Economic Affairs had in July last year cleared the disinvestment of LIC. PTI JD  HRS hrs<\/p><div class=\"trade-content-10\" id=\"trade-3948390325\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<div class=\"trade-after-content\" id=\"trade-2052070414\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Jan 7 (PTI) Finance Minister Nirmala Sitharaman on Friday reviewed the progress of the planned disinvestment of the country&#8217;s largest insurer LIC. The initial public offering (IPO) of Life Insurance Corporation (LIC), touted to be the biggest ever in the country&#8217;s history, is expected to hit the markets by March. &#8220;Union Finance Minister [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31],"tags":[],"class_list":["post-14058","post","type-post","status-publish","format-standard","hentry","category-ipo","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sitharaman reviews progress on planned mega LIC IPO - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sitharaman reviews progress on planned mega LIC IPO\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Jan 7 (PTI) Finance Minister Nirmala Sitharaman on Friday reviewed the progress of the planned disinvestment of the country&#8217;s largest insurer LIC. The initial public offering (IPO) of Life Insurance Corporation (LIC), touted to be the biggest ever in the country&#8217;s history, is expected to hit the markets by March. &#8220;Union Finance Minister [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-07T13:34:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-07T13:43:30+00:00\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/\",\"name\":\"Sitharaman reviews progress on planned mega LIC IPO - Trade Brains Features\",\"isPartOf\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#website\"},\"datePublished\":\"2022-01-07T13:34:58+00:00\",\"dateModified\":\"2022-01-07T13:43:30+00:00\",\"author\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3\"},\"breadcrumb\":{\"@id\":\"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/tradebrains.in\/features\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sitharaman reviews progress on planned mega LIC IPO\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/tradebrains.in\/features\/#website\",\"url\":\"https:\/\/tradebrains.in\/features\/\",\"name\":\"Trade Brains\",\"description\":\"Stock Market NSE\/BSE Latest News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/tradebrains.in\/features\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3\",\"name\":\"PTI News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g\",\"caption\":\"PTI News\"},\"url\":\"https:\/\/tradebrains.in\/features\/author\/ptinews\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Sitharaman reviews progress on planned mega LIC IPO - Trade Brains Features","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/","og_locale":"en_US","og_type":"article","og_title":"Sitharaman reviews progress on planned mega LIC IPO","og_description":"New Delhi, Jan 7 (PTI) Finance Minister Nirmala Sitharaman on Friday reviewed the progress of the planned disinvestment of the country&#8217;s largest insurer LIC. The initial public offering (IPO) of Life Insurance Corporation (LIC), touted to be the biggest ever in the country&#8217;s history, is expected to hit the markets by March. &#8220;Union Finance Minister [&hellip;]","og_url":"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/","og_site_name":"Trade Brains Features","article_publisher":"https:\/\/www.facebook.com\/TradeBrainsOfficial\/","article_published_time":"2022-01-07T13:34:58+00:00","article_modified_time":"2022-01-07T13:43:30+00:00","author":"PTI News","twitter_card":"summary_large_image","twitter_creator":"@TradeBrainsGrp","twitter_site":"@TradeBrainsGrp","twitter_misc":{"Written by":"PTI News","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/","url":"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/","name":"Sitharaman reviews progress on planned mega LIC IPO - Trade Brains Features","isPartOf":{"@id":"https:\/\/tradebrains.in\/features\/#website"},"datePublished":"2022-01-07T13:34:58+00:00","dateModified":"2022-01-07T13:43:30+00:00","author":{"@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3"},"breadcrumb":{"@id":"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/tradebrains.in\/features\/biz-fm-lic-ipo\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/tradebrains.in\/features\/"},{"@type":"ListItem","position":2,"name":"Sitharaman reviews progress on planned mega LIC IPO"}]},{"@type":"WebSite","@id":"https:\/\/tradebrains.in\/features\/#website","url":"https:\/\/tradebrains.in\/features\/","name":"Trade Brains","description":"Stock Market NSE\/BSE Latest News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/tradebrains.in\/features\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3","name":"PTI News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g","caption":"PTI News"},"url":"https:\/\/tradebrains.in\/features\/author\/ptinews\/"}]}},"_links":{"self":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/14058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/comments?post=14058"}],"version-history":[{"count":1,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/14058\/revisions"}],"predecessor-version":[{"id":14059,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/14058\/revisions\/14059"}],"wp:attachment":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/media?parent=14058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/categories?post=14058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/tags?post=14058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}