Govt To Hire Deloitte, SBI Capital Markets As Advisors For LIC IPO

by Anjali Ojha Aug 27, 2020 • 05:29 PM Views 985

 

The Central govt is poised to hire Deloitte Touche Tohmatsu India Ltd and SBI Capital Markets Ltd as pre-IPO transaction advisors for the listing of Life Insurance Corporation of India (LIC). However, questions remain on what changes would be made to the LIC act to go ahead with the IPO. Trade unions are opposing the move saying it will go against the welfare of the policyholders. LIC, the biggest player in India's life insurance sector is a unique company that distributes 95% of its profits to its policyholders. GoNews correspondent Anjali Ojha spoke to G.Sanjeeva Reddy, President, Indian National Trade Union Congress and Deepak Sharma, Working President All India National Life Insurance Employees Federation on the issue