Run-up to LIC IPO: Government pushes for legislative changes to LIC Act by month-end March 04, 2021 IPO expected by FY22 Q3 The government is preparing the ground for the initial public offering of LIC by the third quarter of FY21-22. It is pushing for legislative approvals in the second leg of the Budget session starting March 8. “The task is not easy. Lot of work has to be done to meet the target of third quarter of FY21-22,” a senior official from DIPAM (Department of Investment and Public Asset Management) told BusinessLine. Though the government has not spelt out the quantum of disinvestment, indications are that it could be less than 10 per cent.