Will involve retail investors in LIC IPO, says FM Nirmala Sitharaman

Move will benefit employees, policy holders and agents, says LIC chairman

On Friday, Union Finance minister Nirmala Sitharaman and Life Insurance Corporation Chairman MR Kumar sought to assuage concerns over the decision to list the government-owned insurer on stock exchanges.

Sitharaman had said in her recent Budget speech that the government would sell part of its 100 per cent holding in LIC through an IPO in the next fiscal year. The finance minister, who was in Mumbai on Friday, told mediapersons: “At the moment we are looking at an IPO (of LIC). And the IPO will in a way bring in retail investors into the picture and also make issue more transparent