Govt refutes speculation over LIC IPO's delay, says it is 'on course'

The government on Sunday refuted media speculation around the initial public offer (IPO) of Life Insurance Corporation (LIC) and said that it is unlikely to come up with the IPO of LIC in the current financial year ending March 2022.

"Some media speculation doubting the feasibility of LIC IPO this fiscal year is not correct. It is reiterated that plan is on course for the IPO in the last quarter of this fiscal," Secretary of Department of Investment and Public Asset Management tweeted.

The government is banking on the listing of LIC IPO and BPCL strategic sales for meeting its disinvestment. Recently, speaking about disinvestment, Finance Minister Nirmala Sitharaman had said the government is progressing well.

( With inputs from ANI )

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