We are serious about listing IPO in March: LIC chief

LIC IPO: The stock market is witnessing continuous ups and downs, due to which concerns are increasing due to its impact on LIC IPO in the month of March. Meanwhile, Life Insurance Corporation of India (LIC) Chairman MR Kumar said the insurer is closely monitoring the geopolitical situation arising out of Russia-Ukraine tensions but is not ready to list the initial public offering (IPO) in March. Serious.

It is noteworthy that the effect of Russia-Ukraine tension is visible in the form of volatility in the stock market. LIC, which is preparing to bring its IPO next month, has submitted the issue prospectus with the Securities and Exchange Board of India (SEBI). When asked about the impact of the current geo-political situation on the IPO, Kumar told reporters, “We are watching the situation carefully but we are very serious about listing the IPO in March.”

This is the biggest ever IPO in the country through which it is proposed to raise Rs 63,000 crore by selling 5 per cent stake of the government through offer for sale. Foreign portfolio investors have sold a net worth of Rs 18,856 crore from the domestic market so far in February amid geopolitical tensions in Eastern Europe and fears of a rate hike by the US Federal Reserve. According to depository data, foreign investors sold shares worth Rs 15,342 crore and bonds worth Rs 3,629 crore between February 1 and February 18. Whereas during this he invested Rs 115 crore.

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