Enjoy! 10 per cent stake reserved for policyholders in LIC's IPO

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New Delhi, 3 February 2021 Wednesday

The good news for LIC policyholders is that a senior central government official has hinted that 10 per cent stake in LIC's IPO may be reserved for policyholders.

Presenting the budget for the financial year 2021-22, Finance Minister Nirmala Sitharaman has announced that LIC's IPO will come in the next financial year, i.e. some part of it will be sold to the public through the stock market.

DIPAM secretary Tuhin Kant Pandey said that while 10 per cent stake in LIC's IPO could be given to its policyholders, the government intends to make its policyholders partners in the company.

Finance Minister Nirmala Sitharaman, while presenting the budget, has set a target of raising Rs 2.5 lakh crore (1.75 lakh crore) through disinvestment in the year 2021-22, under which it has announced to sell some stake in LIC.

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