(OP)inions Modi sells insurance

January 12, 2022 

State-owned Life Insurance Corp. of India, with its distinctive blue and yellow logo, is ubiquitous across Asia‘s third-largest economy. LIC controls two-thirds of the Indian market with almost 300 million policiesand more than 1.2 million agents, 100,000 employees, 2,000 branches and 1,500 satellite offices. After a one-year delay, controversial Prime Minister Narendra Modi’s administration is racing to sell a stake of 5% to 10%in LIC in what would be Indias biggest-ever initial public offering. A 10% stake would be the second-biggest IPO ever in the global insurance industry.  

From adjusting capital-markets rules to sending phone messages and publishing newspaper advertisements, authorities and executives are leaving no stone unturned to ensure it is a success.  

The IPO -- which could raise between 400 billion rupees ($5.4 billion) and 1 trillion rupees this quarter – is a key Modi priority, with proceeds from the state-run insurer badly needed to fund spending.  

OnePro Special Analyst

Buy or sell or copy trade crypto CFDs atwww.oneproglobal.com

The foregoing is a personal opinion only and does not represent any opinion of OnePro Global, nor is there any guarantee of reliability, accuracy or originality in the foregoing.

Forex and CFD trading may pose a risk to your invested capital.

Before making an investment decision, investors should consider their own circumstances to assess the risks of investment products. If necessary, consult a professional investment advisor.  

www.oneproglobal.com