LIC IPO may be deferred amid Ukraine crisis

New Delhi, March 2

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With the Russia-Ukraine war roiling financial markets globally, the government may defer the mega IPO of LIC and wait for an opportune time to get the maximum value of its holding in the state-owned insurance behemoth, sources said. “It’s a full blown war now so we will have to assess the situation for going ahead with the LIC IPO,” a government source said.

Finance Minister Nirmala Sitharaman too had indicated review of the IPO in view of the evolving geopolitical situation.

“Ideally, I would like to go ahead with it because we had planned it for some time based purely on Indian considerations,” Sitharaman had said in an interview with a national daily. “But if global considerations warrant that I need to look at it, I would not mind looking at it again.” The IPO was expected to hit the market this month.

The government is expecting to garner Rs 63,000 crore by selling 5% stake in the company. —