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Air India sale kicks off major privatisation drive, next up LIC listing, says official : Rashtra News The sale of national carrier Air India to conglomerate Tatas has opened the way for faster privatisation of state firms and the government is on track to list Life Insurance Corporation (LIC) early next year, a top government
The government shareholding, (as a promoter) in NSE listed companies has jumped to 7.15 per cent as of June 30, 2022, from 5.48 per cent in March 2022.
Life Insurance Corporation's public offer started with widespread fanfare, but apart from a euphoric subscription, it has all been downhill for the insurance behemoth. India's biggest initial public offering (IPO) received an overwhelming response with its issue oversubscribed nearly three times, which has turned out to be the only bright spot in the so-called phase termed "LIC 2.0."
LIC made its debut on bourses on May 17. The scrip got listed at nearly a 7% discount at Rs 886.20 on the BSE against the issue price of Rs 949.
LIC made a tepid market debut but became the fifth-largest firm by market capitalisation after listing.