The review could impact the timing of LIC's mega public offering, which made up the biggest portion of the country’s $10.4 billion asset-sale program. 
The review could impact the timing of LIC's mega public offering, which made up the biggest portion of the country’s $10.4 billion asset-sale program. The Centre is likely to hold a meeting on re-strategizing its plan on Life Insurance Corporation's (LIC) initial public offering (IPO) this week, sources told Business Today TV on Tuesday. "In view of the market situation arising from Ukraine crisis, we are closely watching the situation," said a government official.
Government may re-strategize on timeline of LIC IPO, keeping in mind its vested interests in global investors for the stake sale.
The review could impact the timing of LIC's mega public offering which made up the biggest portion of the country’s $10.4 billion asset-sale program.
The government had set a March deadline for the IPO and its Draft Red Herring Prospectus (DRHP) filed on February 13 put the insurance giant’s embedded value at Rs 5.4 lakh crore.
In the IPO, the firm will also earmark a certain percentage of shares for policyholders, not exceeding 10% of the offer size, while the portion reserved for employees will not be more than 5% of post-offer equity share capital, according to the IPO filing. LIC employed 114,498 people as of end-March, 2021.
LIC, which was formed six decades ago when India's insurance sector was nationalised, straddles the business in the country, with more than 280 million policies and over 60% of the insurance segment.
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