Ahead of major disinvestments expected in the comping days, country's largest investor LIC today said it will consider all investment offers that come its way and take advantage of opportunities.
LIC Chairman S K Roy also said the company is on track to meet the the Rs 55,000-crore equity investment target this fiscal.
He also said the Rs 17-trillion insurance firm will have to examine the consequences for LIC due to government hiking FDI in the sector to 49 per cent.
Speaking at Vibrant Gujarat Summit on LIC's plans for government's divestment programme here, Roy said: "We are an investor and if a disinvestment opportunity comes, we will examine it on merit and take a decision.
"... We don't know what will be the government's disinvestment programme. When an offer is made in the market, it is made to everybody including us. We appraise it on merit and take a call on that," he said.
On the Rs 55,000-crore equity investment target that LIC had set for itself this fiscal, he said the corporation is on track with whatever it has planned at the beginning of year.
"There are two months left, we will appraise. If more opportunities come in, we will obviously take advantage of those opportunities."
Last week, Finance Minister Arun Jaitely had said that the government would go for major disinvestment in the next two-and-a-half months.
"... Major disinvestment in the coming months prior to March 31 is going to take place," he had said.
The Government is racing against time to meet the disinvestment target of Rs 43,425 crore set for this fiscal. So far, it has sold 5 per cent stake in steel major SAIL and raked in Rs 1,700 crore. Blue-chip companies like ONGC, NHPC and Coal India has been lined up for disinvestment.
On government hiking FDI in insurance and its impact on his company Roy said it will increase capital in the industry.
"Obviously there will be better ways of selling insurance and servicing. So, if there are consequences for us, we will have to examine," he said.
Roy said LIC has indirectly invested Rs three trillion on infrastructure and social schemes.
LIC, which enjoys over 84 percent market share, has investments worth over Rs 3 trillion in markets, mostly in government bonds and stock markets.
Roy said LIC has investments worth Rs 28,000 crore in various Gujarat government entities/departments while its investments in the equities of Gujarat-based corporates is worth Rs 20,000 crore.
"Our total investment in the state to Rs 48,000 crore. We might be among the largest investors in the state."
He also said Government's 'Make in India' campaign will have a positive impact on insurance and pension markets as the programme is expected to push up growth.
On the growth outlook, he said next fiscal will certainly be far better than in the past few years.
