Hope volatility in markets recedes for LIC IPO launch: DIPAM secretary

There are certain external factors affecting the markets because of the conflict in Europe, and the government is watching the situation carefully, the official said

The government hopes to launch the initial public offering (IPO) of the Life Insurance Corporation of India (LIC) as soon as stock market volatility, sparked by the Russian invasion of Ukraine, recedes, said Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey.

The draft red herring prospectus (DRHP) of LIC has received “prima-facie” clearance from the Securities and Exchange Board of India (Sebi), subject to fulfilment of certain requirements, Pandey said at an industry interaction.

“We may be good to go and we are watching the market situation and hopefully we should be able to bring out the IPO