The Indian government is looking to sell a 3.5% stake in state-owned insurance behemoth Life Insurance Corporation of India (LIC), a senior government and banking source told Reuters on Saturday.
The listing is expected to hit the markets in first week of May and details on reservations, discount, issue date and price is likely to be announced by April 27, the sources said.
"There is absolutely no demand in the market right now for IPOs. Considering the volatility in the market, investors are continuing to remain cautious. At such times doing a higher stake sale does not make sense," the investment banking source said.The finance ministry did not immediately respond to an email seeking comment which was sent outside of business hours.
The government has halved its fundraising goal from a stake sale in LIC to 300 billion rupees , having had to cut its valuation estimates after feedback from investors, a government source said on Friday.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Boris Johnson sparks outrage in India with bulldozer photoshootBoris Johnson’s visit to the JCB factory in India has been slammed as “tone-deaf” and “ignorant.”
Les mer »
U.K. to Boost Defense Collaboration With IndiaPrime Minister Boris Johnson said Britain would make it easier to export defense equipment to the South Asian nation.
Les mer »
Analysis: Why India can buy Russian oil, and still be friends with the USThe White House went from calling India 'somewhat shaky' on Ukraine to hailing a 'deep connection' with New Delhi in the space of a few weeks. Shared concern over China's rising military power, India's reliance on Russian arms and a troubled Cold War history all help explain why.
Les mer »
Will Smith Seen for First Time Since Oscar's Slap in IndiaWill Smith resurfaced after that slap, but far, far away from Hollywood.
Les mer »
Will Smith travels to India following Oscars slap controversySmith has been photographed for the first time since the night of the Oscars, where he slapped Chris Rock over a joke aimed at wife, Jada Pinkett Smith.
Les mer »
IMF Official: Regulating Crypto Assets Is High on the Agenda for India – Regulation Bitcoin NewsA director at the International Monetary Fund (IMF) says that crypto regulation is 'certainly high on the agenda' for India.
Les mer »