LIC IPO, GOVT STAKE SALE IN IDBI MAY BE PUT OFF

NEW DELHI: Listing of Life Insurance Corporation (LIC) and sale of government’s stake in IDBI Bank may be delayed beyond March 2021, due to depressed valuation amid Covid-19 pandemic. The government aims to garner ₹90,000 crore from the listing of LIC and stake dilution in IDBI Bank out of total the disinvestment target of ₹2.1 lakh crore during the current fiscal. FM Nirmala Sitharaman while presenting the Budget 2020-21 had announced stake sale in LIC through an initial public offer in the current financial year.