Covid-19 impact: LIC listing, IDBI Bank stake sale may be postponed

Listing of Life Insurance Corporation (LIC) and sale of government's stake in IDBI Bank may be delayed beyond March 2021, due to depressed valuation amid Covid-19 pandemic.

The government aims to garner Rs 90,000 crore from the listing of LIC and stake dilution in IDBI Bank out of the total disinvestment target of Rs 2.10 trillion during the current fiscal.

Finance Minister Nirmala Sitharaman while presenting the Budget 2020-21 had announced stake sale in LIC through an initial public offer in the current financial year.

Given the prevailing market situation, it seems to be difficult to do the LIC stake