The government on Sunday refuted media speculation around Life Insurance Corporation’s (LIC) initial public offering (IPO) and said it is unlikely to offer LIC’s IPO in the course of the year. current fiscal year ending in March 2022.

“Some media speculation questioning the feasibility of LIC’s IPO this fiscal year is not correct. It is reiterated that the plan is on track for IPO in the last quarter of this fiscal year. exercise, “tweeted the secretary of the Department of Investment and Public Asset Management.

The government is counting on the listing of LIC’s IPOs and BPCL’s strategic sales to cope with its divestment. Recently, speaking of divestment, Finance Minister Nirmala Sitharaman said the government was making good progress.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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