The Securities and Exchange Board of India (SEBI) on Tuesday gave permission to the LIC IPO, in which the government plans to raise Rs 60 thousand crore to balance the budget account of the current financial year. It is now up to the government to decide when it will launch in the market for the public.
Recently, Finance Minister Nirmala Sitharaman had indicated in one of her interviews that the listing of LIC would be discussed in the cabinet meeting. Although she had also said that she wants to go ahead with her decision of listing the company in the month of March, but a final decision will be taken only after discussion in the meeting.
In fact, due to the geopolitical crisis, there has been a turmoil in the stock market across the world in which, the Indian stock market is also getting affected. The government's plan is to bring more foreign investors to the company's stock, but on the other hand the foreign investors are withdrawing money from the market.
According to Infonmore, in the month of February, foreign investors have withdrawn more than 31 thousand crore rupees from the Indian market.
For example, for the last five months, foreign investors have been selling from the stock market. At a time when there is turmoil in the market, experts believe that the government can postpone the LIC IPO.
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