The central government is likely to take a call on the timeline of the initial public offer of Life Insurance Corporation (LIC) of India by the end of this week.
“We will have clarity on if we are going ahead with the LIC IPO within the stipulated deadline by the end of this week,” a government official told Business Today TV.
“We are neither bound to do it, nor prevented from doing it. We definitely see strength and momentum. But, we will take a final call after meetings by end of this week,” the official added.
While the government is confident about the prospects of the issue, it is wary of market conditions and investor sentiment.
The Indian stock market has tumbled this week on account of investor fears over rising inflation and the likelihood of a rate hike soon. This, coupled with an unfavourable start to the earnings season in heavyweight stocks had led to heavy sell-off.
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