INSUBCONTINENT EXCLUSIVE:
Nirmala Sitharaman has said that government will go ahead with LIC's IPOFinance minister Nirmala Sitharaman on Tuesday emphasised that the
government is going ahead with the initial public offer (IPO) of Life Insurance Corporation (LIC) as "there is a buzz in the market and
interest".At the same time on a cautious note, she said that the government is worried whether "the market situation is conducive (for
it)"."There is a buzz in the market and there is interest for LIC IPO
We are going ahead with it," Ms Sitharaman said
She, however, added that "we are equally worried if the market situation is conducive".The finance minister made these comments during a
press conference in Mumbai on the last day of her two-day visit to the city, today.Ms Sitharaman's comments came in the backdrop of the
LIC IPO was released on February 13
the DRHP's release has fuelled interest in the IPO."I think the way it is crafted, it has generated a lot of interest," she added.Ms
Sitharaman on the first day of her visit to Mumbai, had met industry, trade and financial market stakeholders to discuss the union
not sacrifice their interests to meet the goals set out by the government, its controlling shareholder.In virtual roadshows for India's
biggest ever public listing, LIC management and the IPO bankers have been peppered with questions about the insurer's past investments and
their quality, four people with knowledge of the matter said, the Reuters report had said.Potential conflicts of interest issues are taking
centre-stage in the IPO roadshows that began last week and are expected to go on till the end of the month, Reuters said, quoting sources.
