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LIC IPO: An idea whose time has not come

More than the regulatory changes the government will have to overcome, it will need to consider LIC's returns and valuation

LIC IPO: An idea whose time has not come

Itwasamonsoonmorningtwoyearsago.ThenewfinanceministerArunJaitley,lessthanamonthinNorthBlock,wasinMumbai.Hemettopbankersandchiefsofbigfunds,andinsurers.TheincumbentRBIgovernor,UrjitPatel,whowasthenthedeputygovernor,wasalsoinattendance. Afewdayslater,themediastartedreportingvariousideasthatcameduringthisbrainstormingsessionofthecrèmedelacrèmeofIndia’sfinancialcapital.OneofthesewasthelistingofLifeinsuranceCorporationofIndia(LIC). OnJune12,2014,Business ...