LIC IPO: Investors shouldn't worry about govt control, says chairman
The company is well capitalised, said Chairman M.R Kumar.
- Feb 21, 2022,
- Updated Feb 21, 2022 4:13 PM IST
State-run Life Insurance Corp. Of India (LIC), which is planning the country's largest IPO next month, is well capitalised, the company's chairman M.R Kumar said on Monday.
Kumar said LIC's potential investors should not worry about government control post the IPO as decisions in the country's largest insurance company are taken by its board and not by the government, which will hold 95% of stake post the IPO.
LIC is planning to sell a 5% stake to raise about $8 billion next month, which could make it India's largest IPO by far.
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State-run Life Insurance Corp. Of India (LIC), which is planning the country's largest IPO next month, is well capitalised, the company's chairman M.R Kumar said on Monday.
Kumar said LIC's potential investors should not worry about government control post the IPO as decisions in the country's largest insurance company are taken by its board and not by the government, which will hold 95% of stake post the IPO.
LIC is planning to sell a 5% stake to raise about $8 billion next month, which could make it India's largest IPO by far.
Also Read: India, Panacea Biotec to jointly develop betacoronavirus vaccines
Also Read: InterGlobe Aviation stock falls 4% after Rakesh Gangwal resigns from board