Economy News
Hope to close BPCL stake sale, LIC IPO by March: DIPAM secretary Tuhin Kanta Pandey

Having completed the privatisation process of Air India, the government is now focussed on completing the sale process of BPCL. It also plans to move fast on the listing of Life Insurance Corporation (LIC). In an interview with FE, department of investment and public asset management (DIPAM) secretary Tuhin Kanta Pandey said he’s hopeful of these two big-ticket transactions materialising by March 31, 2022. He said plans are afoot to invite financial bids for BPCL by December and filing of the draft red herring prospectus (DRHP) for LIC with the Securities and Exchange Board of India (Sebi) within December-January period. “We will soon review how far the due diligence for BPCL has progressed…We are trying for the transaction in this financial year,” Pandey said.

News Source:- https://www.financialexpress.com/economy/hope-to-close-bpcl-stake-sale-lic-ipo-by-march-dipam-secretary-tuhin-kanta-pandey/2348280/