The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry. The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
Harvard-educated Piramal is also in the boards of several companies, including Piramal Life Sciences, SBI Capital Markets Ltd and Prudential ICICI Management.
The Hongkong and Shanghai Banking Corporation has announced that its open offer for acquiring additional 20 per cent in UTI Bank at Rs 90 per share.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
Move to hasten rollout and, if successful, set a precedent for new banking firms.
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