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LIC IPO to bring Rs 1 lakh crore, BPCL sale fetch Rs 80,000 crore CEA

  • calendar 28-Mar-2021
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LIC IPO to bring  Rs 1 lakh crore, BPCL sale  fetch Rs 80,000 crore CEA

the much-anticipated initial public offering (IPO) of Life Insurance Corporation of India (LIC) can bring in Rs 1 lakh crore for the government, said the Chief Economic Adviser (CEA) K.V. Subramanian. Speaking at a webinar on Saturday, the CEA said that the strategic sale of Bharat Petroleum Corporate Ltd (BPCL) is likely to bring in Rs 75,000-80,000 crore. He was of the view that the disinvestment target of Rs 1.75 lakh crore for the financial year 2021-22 was "imminently achievable". Talking of the disinvestment target for the current fiscal, Subramanian said: "Of this, BPCL privatisation and LIC listing itself were important contributors. There are estimates suggesting Rs 75,000-80,000 crore or even higher can just come from the privatisation of BPCL itself. LIC IPO could bring in Rs 1 lakh crore approximately

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