Confident that LIC listing should happen by fourth quarter of this year: CEA K Subramanian

#Business, #India, #Indian School of Business, #Krishnamurthy Subramanian, #LIC, #LIC IPO, #Life Insurance Corporation of India

Chief Economic Adviser Krishnamurthy Subramanian on Saturday expressed confidence that the listing of LIC would happen by the fourth quarter of this year.

“…this year’s budget has Rs 1.75 lakh crores as the proceeds from privatisation. Air India is proceeding well. You must have read that there are two bids that have come. Bharat Petroleum and LIC’s listing is also, we are confident it should happen by the fourth quarter of this year,” he said.

“I am quite confident that this year, history will look at as a very, very important year for privatisation,” he said at an interactive session as part of ‘PGPMAX Leadership Summit 2021’ of Indian School of Business (ISB) here.

The government has recently appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country’s largest insurer LIC.

Subramanian, who was replying to a query on privatisation, talked about the ‘Atma Nirbhar Bharat’ policy and the key reform of promoting privatisation vis-a-vis public sector entities except for some strategic sectors.

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