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LIC IPO expected in Jan-Mar, 5-6 PSUs to be privatised this year: DIPAM Secretary

LIC IPO expected in Jan-Mar, 5-6 PSUs to be privatised this year: DIPAM Secretary

DIPAM Secretary Tuhin Kanta Pandey said, "After 19 years, we would possibly see 5-6 privatisations this year. Not only Air India but BPCL is in due diligence stage."

Pandey said the IPO of LIC is on track and is likely to hit the market in fourth quarter of FY22. (Pic credit: CII) Pandey said the IPO of LIC is on track and is likely to hit the market in fourth quarter of FY22. (Pic credit: CII)

The government is on track with its privatisation agenda for fiscal year 2021-22, and 5-6 public sector undertaking (PSUs) are likely to be privatised this fiscal, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Wednesday.
 
Speaking during industry body CII's Global Economy Policy Summit, Pandey said, "After 19 years, we would possibly see 5-6 privatisations this year. Not only Air India but BPCL is in due diligence stage. BEML, Pawan Hans, NINL, these are the transactions in which financial biddings can take place in December-January."
 
The government has set an ambitious disinvestment target of Rs 1.75 lakh crore for 2021-22. Presenting the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman had said that strategic sale of IDBI Bank, BPCL, Shipping Corp, Container Corporation, Neelachal Ispat Nigam Ltd, Pawan Hans, Air India, among others, would be completed during the year.
 
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Besides, she had also said that the government would come out with IPO of Life Insurance Corporation (LIC) this year.
 
Pandey said that the initial public offering (IPO) of LIC is on track and is likely to hit the market in fourth quarter of FY22.
 
Speaking during the same event, Department of Economic Affairs Secretary Ajay Seth said that amidst the pandemic, the government has tried to bring in reforms, ease up processes, and remove frictions in the last 18 months.
 
"There have been tremendous changes in economic policy making at macro level, focused exclusively on growth, involving ethical wealth creation and a micro-level focus on efficiency in welfare measures," he said.
 
Seth said the government is cognizant of the global semiconductor shortage is working to resolve the issue in India. He also said that a credit policy is needed for real estate and affordable housing sector in the country and the government will soon take it up.

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