An IPO without LIC support is akin to a baby walking without a walker

Finance ministry is trying to depend less on the likes of LIC for public sector undertaking share sales

Baby walker

Finance ministry arm Dipam is trying to depend less on the likes of LIC for public sector undertaking (PSU) share sales. Speaking at an event, a Dipam official highlighted that investments by state-owned insurers and banks in PSU disinvestments this fiscal have been much less than the previous fiscal. However, the downside of this has been that two PSU’s initial public offerings struggled to garner full subscription, forcing them to lower the price and extend their closing dates. An investment banker has an interesting take on this: “An IPO without LIC support is akin to a baby trying to