Assured that LIC itemizing ought to occur by fourth quarter of this 12 months: CEA Subramanian

Chief Financial Adviser Krishnamurthy Subramanian on Saturday expressed confidence that the itemizing of LIC would occur by the fourth quarter of this 12 months.

“…this 12 months’s finances has Rs 1.75 lakh crores because the proceeds from privatisation. Air India is continuing effectively. You should have learn that there are two bids which have come. Bharat Petroleum and LIC’s itemizing can be, we’re assured it ought to occur by the fourth quarter of this 12 months,” he mentioned.

“I’m fairly assured that this 12 months, historical past will have a look at as a really, essential 12 months for privatisation,” he mentioned at an interactive session as a part of ‘PGPMAX Management Summit 2021’ of Indian Faculty of Enterprise (ISB) right here.

The federal government has not too long ago appointed 10 service provider bankers together with Goldman Sachs (India) Securities, Citigroup International Markets India, and Nomura Monetary Advisory and Securities India to handle the mega preliminary public providing of nation’s largest insurer LIC.

Subramanian, who was replying to a question on privatisation, talked concerning the ‘Atma Nirbhar Bharat’ coverage and the important thing reform of selling privatisation vis-a-vis public sector entities apart from some strategic sectors.