India’s privatization plans to begin with LIC IPO
LIC is the state’s insurance giant in India. Centre will announce LIC IPO size.
India’s privatization plans to begin with LIC IPO. For the current financial year, central government is aiming of disinvesting at an estimation of ₹ 78,000 crore. The government might be exploring the sale of the state run insurance giant, LIC. While, DFS (the department of finance services) will focus of privatizing two state run banks of India.
The centre will announce the size of the LIC IPO within a week. Dipam secretary (Department of investment and public asset management) ascertains that the centre does not plan to defer the privatization of LIC further. It will materialize it this financial year itself.
There are other disinvestment plans waiting to materialize afterwards.
India’s other disinvestment plans:
India’s privatization plans to begin with LIC IPO, will continue following the spree of privatization.
- First is a fresh privatization plan of BPCL, an oil marketing firm. It will have government’s attention next. Although it faces challenges due to climatic and energy resource issues.
- Second is the advanced stage bidding of NINL (Nilachal Ispat Nigam), a metal company. Tata Steels emerges as a winner of the bidding.
- Thirdly, the transaction of SCI and BEML is also in an advanced stage.
- Fourth is the transaction of Pawan Hans, a state run helicopter services. There are bids received for it.
- Fifth is the bidding of Concor, a state owner logistics firm. It awaits clarity on its land policy.
- Moreover, centre might also disinvest in HLL Lifecare and PDIL.
Recently, in an arbitration, Tata group buys Air India. Centre disinvests in Air India. As per the secretary, Dipam has gained a better understanding of bidding and privatization through this experience. He also attributes it to the advanced state bidding of NINL.
