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SEBI granted its approval for the LIC IPO last week.
New Delhi: The initial public offering (IPO) of India’s biggest insurer Life Insurance Corporation of India (LIC) seems unlikely in this financial year 2021-22, sources told NDTV. The government may defer the LIC’s mega IPO on market volatility as the Russia-Ukraine conflict rages on, they added.
While the Centre has time until May 12 to launch the LIC IPO without filing fresh papers with markets regulator SEBI, sources stated that the listing is unlikely in early April as financial markets have been whiplashed by the see-saw nature of news flow from the raging Russia-Ukraine conflict.
On February 13, the government filed the draft red herring prospectus (DRHP) for the IPO with SEBI, which granted its approval for the same last week.
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