LIC Races Against Time to List in FY22

Brace for a race against time. Even as the tenure of LIC Chairman M.R. Kumar was extended by a year, FM Nirmala Sitharaman announced in her Budget speech that LIC’s IPO is “expected shortly”. At the post-budget briefing, the DIPAM secretary said the draft document will be filed in two weeks. Now, it takes the regulator typically well over a month to clear the draft document. So, can LIC’s IPO hit the bourses in FY22? It’s touch and go.