Prime Time Zone, Webdesk: The IPO of Life Insurance Corporation of India (LIC), the country’s largest public sector insurer, will be available after October this year, government sources said. Also, state-owned airline Air India and oil company BPCL said their share sales would be completed in the first half of the 2021-22 financial year. In Monday’s budget, Finance Minister Nirmala Sitharaman announced that LIC would hold an IPO in the next financial year.
However, no deadline has been set for this. He also said the withdrawal of investments by BPCL, Air India, Shipping Corporation of India, Container Corporation of India, IDBI Bank, BEML and Pawan Hans would be completed by 2021-22. Investment and Public Asset Management (Deepam) secretary Tuhin Kanta Pandey said the government had introduced the necessary amendments to the LIC and IDBI Bank stake withdrawal in the Finance Bill submitted along with the budget on Monday.
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