Govt gets in on the act to prepare LIC for FY22 listing

Experts said that these changes were mandatory in order to facilitate the listing of LIC in FY22 expected to be the largest IPO India has ever seen.

Synopsis
These statutory amendments, made public in the Finance Bill on Monday after the budget, will enable the life insurer to comply with key listing requirements mandated by the capital market regulator Securities and Exchange Board of India (Sebi) along with requirements detailed under the Companies Act.

Mumbai: The government has proposed sweeping changes to several critical clauses of the LIC Act of 1956 that pertains to the capital structure, composition of the board, dividend payments to policyholders and the governing norms of the state-owned life insurance behemoth ahead of its much-anticipated public listing.These statutory amendments, made public in the Finance Bill on Monday after the budget, will enable the life insurer to comply with

Ashwin Manikandan Saloni Shukla

ET Bureau

5 mins read, Last Updated:

Feb 3, 2021, 08:00 AM IST

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