BUSINESS
01/02/2020 1:22 PM IST | Updated 01/02/2020 1:23 PM IST

Govt To Sell Part Of Its Holding In LIC, Says Nirmala Sitharaman

She said LIC will be listed as part of the government disinvestment initiative.

ASSOCIATED PRESS

NEW DELHI — Finance Minister Nirmala Sitharaman on Saturday said LIC will be listed as part of the government disinvestment initiative.

She further said that the listing brings in more financial discipline among the entities.

The government proposes to sell a part of its holding in LIC through initial public offer, she said while unveiling Budget 2020-21.

Currently, the government owns the entire 100% stake in Life Insurance Corporation of India (LIC).