LIC IPO: To Be Postponed To The Next Fy Due To Heightened Volatility

As the secondary markets have saw a massive rout amid the ongoing Ukraine-Russia tensions, the most awaited and the largest public issue of LIC is set to be deferred to the next fiscal year, as per the Bloomberg report.

Though no official confirmation is made yet, an announcement on the front can be made this week or next. Furthermore, as per the person privy of the development said in case the volatility in the market subsides then the issue may be launched as early as in April.

Further as per the people cited in the report, the company's underwriters didn't see much interest among anchor investors. Also fund managers have been skeptical of making major commitments during the market turbulence and heightened volatility.

Since the tensions on the front ignited from February 18, the global markets saw m-cap eroding by over $3 trillion.

This week the country's finance minister said he would not mind to reassess the timing of LIC though ideally she would like to go ahead with it.