LIC IPO set to be delayed to next financial year: Report

FPJ Web DeskUpdated: Friday, March 04, 2022, 10:06 PM IST
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In what will be the biggest stock offering in India, the government had plans to raise about $8 billion by selling 5 per cent of LIC`s stake this month. / Representative image |

The initial public offering of Indian state-run Life Insurance Corp (LIC) is set to be delayed into the next financial year due to the market volatility triggered by Russia`s invasion of Ukraine, Bloomberg News said in a report, citing sources, Reuters said.

In what will be the biggest stock offering in India, the government had plans to raise about $8 billion by selling 5 per cent of LIC`s stake this month before the fiscal year ends on March 31.

LIC did not immediately respond to a Reuters` query seeking comments.

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