LIC IPO: Govt desires markets to stabilise earlier than last name – Occasions of India

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NEW DELHI: The Centre is ready for the stock market, which has change into unstable within the wake of the Russian invasion of Ukraine, to stabilise earlier than going forward with the mega IPO of insurance coverage behemoth LIC, official sources have stated. This has triggered prospects of the difficulty being deferred for now.
Since Russia’s invasion, uncertainty has gripped the nation’s greatest IPO and plans to listing it earlier than the tip of the monetary yr on March 31 appear to be in jeopardy. Sources stated the federal government has time till Might 12 to unveil the IPO on the premise of the paperwork filed with the inventory market regulator Sebi.
The federal government had filed the draft crimson herring prospectus with Sebi on February 13 and sources stated all eyes at the moment are on the state of the inventory market and any itemizing would rely upon when the volatility reduces.
The sources stated authorities are watching the volatility index, which had spiked sharply after Russia’s invasion of Ukraine, and is at present ruling at round 25.three and the view throughout the authorities is that it ought to settle at round 15 ranges to take a name on the timing of the LIC IPO.
The markets have been uneven and the apprehension is that it might have a serious impression on the LIC itemizing and damage the Centre’s plan to lift near Rs 70,000 crore from the IPO.





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