Up To 10% Of LIC IPO Issue To Be Reserved For Policyholders: MoS Finance

Up to 10 per cent of the LIC IPO issue size would be reserved for policyholders, Minister of State for Finance Anurag Thakur said on Tuesday.

The government will remain the majority shareholder and will continue to retain management control safeguarding the interest of policyholders, he said.

“In the Finance Bill 2021-22, it has been proposed to have a reservation on a competitive basis, to an extent of up to 10 per cent of the issue size, in favour of life insurance policyholders of LIC,” Thakur said in a written reply to a query in the Rajya Sabha.

In her Budget Speech 2021, Finance Minister Nirmala Sitharaman said the initial public offering (IPO) of Life Insurance Corporation (LIC) would be launched in the next financial year, beginning April 1.

Source: Business Standard

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