Fin Min announces LIC IPO, LIC Housing Finance shares gain 3%

After Finance Minister Nirmala Sitharaman in her Budget speech proposed to float the IPO of Life Insurance Corporation (LIC), LIC Housing Finance’ shares is observed with a gain over 3%. Amar Ambani of YES Securities said the government divestment was based largely on the back of LIC IPO. It is much higher than our target of Rs 1.35 lakh crore, he said. “IPO of LIC will bring transparency in its functioning,” said Anil Rego, Founder & CEO, Right Horizons. LIC IPO will bring more effectiveness and good governance practice in LIC, said Pavan Kumar Vijay, founder at Corporate Professional Group.