• The government will go ahead with the upcoming initial public offering (IPO) of the state-run insurance giant LIC, Finance Minister Nirmala Sitharaman said on February 22, amid concerns raised over the potential fallout of the escalating tensions between Russia and Ukraine.
  • The draft red-herring prospectus for the LIC IPO was released on February 13. The offer is for the sale of up to 316.25 million shares or around 5 percent held in the Life Insurance Corporation of India by the Centre.
  • According to Sitharaman, the release of DRHP has fuelled interest in the LIC IPO. "I think the way it is crafted, it has generated a lot of interest," she added.
  • Sitharaman, who is in Mumbai on a two-day visit, has been meeting industry, trade and financial market stakeholders since February 21. The discussions were held over the recently passed Union Budget for financial year 2022-23.
  • The finance minister pointed out that the Centre had already reduced taxation on fuel from its end, in October last year, in a bid to ease the domestic fuel prices.