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GoI officials hard-sell LIC to global investors

GoI officials

GoI officials – Officials from the Ministry of Finance’s Disinvestment Department, along with Life Insurance Corporation (LIC) of India management, are on a two-week investor roadshow throughout various nations, including the United States.

The team consists of the Department of Investment and Public Asset Management (DIPAM), the Department of Financial Services (DFS), and LIC management. They are also expected to travel to Singapore, Hong Kong, and the United Kingdom in the following days to meet with investors.

“LIC is a significant company, and we are meeting with investors to discuss March quarter performance as well as other metrics.” “We are concerned that the LIC stock price is declining,” an official stated.

GoI officials

The discussions at the international investor meetings are centred on the company’s financial strength and earnings success.

“As part of the roadshows, we have been sharing key information and developments.” As of March 2023, the embedded value was $71 billion,” the source noted.

The Centre is not interested in a follow-up offer at this time, but may reconsider after the Lok Sabha elections next year.

“There is no proposal right now,” the person added, “but whenever we do it, we may look at small tranches.”