LIC Listing To Happen By 4th Quarter Of This Year: CEA

On Saturday Chief Economic Adviser Krishnamurthy Subramanian exuded confidence that LIC listing would most likely be completed by the fourth quarter of this year.

"...this year's budget has Rs 1.75 lakh crores as the proceeds from privatisation. Air India is proceeding well. You must have read that there are two bids that have come. Bharat Petroleum and LIC's listing is also, we are confident it should happen by the fourth quarter of this year," he said.

"I am quite confident that this year, history will look at as a very, very important year for privatisation," he said at an interactive session as part of 'PGPMAX Leadership Summit 2021' of Indian School of Business (ISB) here.

Lately the government appointed 10 merchant bankers for overseeing the LIC IPO.The list includes Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India among others.

Subramanian, who was responding to a query related to privatisation, talked about the 'Atma Nirbhar Bharat' policy as well as the key reform to promote privatisation vis-a-vis public sector entities except for some strategic sectors.

With PTI Inputs