LIC IPO: Cabinet allows up to 20% FDI under automatic route in LIC, says report

LIC IPO: LIC has been permitted up to 20 per cent FDO in order to facilitate disinvestment process. (Reuters) — LIC IPO: LIC has been permitted up to 20 per cent FDO in order to facilitate disinvestment process. **(Reuters)**

1 min read . Updated: 26 Feb 2022, 02:47 PM IST Livemint

LIC IPO: The decision to allow 20 per cent FDI in LIC was taken by the Cabinet led by Prime Minister Narendra Modi

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LIC IPO: The Union Cabinet on Saturday permitted up to 20 per cent foreign direct investment (FDI) under automatic route in Life Insurance Corporation of India (LIC), which is about to launch its much-awaited initial public offering in a few days, news agency PTI reported, citing sources. LIC has been permitted up to 20 per cent FDO in order to facilitate the disinvestment process, the news agency reported.

The decision to allow 20 per cent FDI in LIC was taken by the Cabinet led by Prime Minister Narendra Modi.

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