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Bids from merchant bankers for LIC disinvestment

By IndianMandarins- 05 Jul 2021
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New Delhi (05.07.2021): In all likelihood, the Centre is expected to invite bids from merchant bankers this month for managing disinvestment of insurance behemoth LIC as it moves ahead with plans to launch IPO by January.
The Department of Investment and Public Asset Management (DIPAM) appointed the actuarial firm Milliman Advisors LLP India in January to assess the embedded value of LIC ahead of the IPO. This is expected to be the biggest public issue in the corporate history of India.
The official saidthat the Budget amendments to the LIC Act have been notified and the actuarial firm would work out the embedded value of the life insurer in the next couple of weeks.
Under the embedded value method, insurance companies' present value of future profit is also included in its present net asset value (NAV). Up to 10 per cent of the LIC IPO issue size would be reserved for policyholders.

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