LIC IPO gets Sebi approval; may see delayed launch over Ukraine crisis
LIC's IPO is one of the fastest to get Sebi approval; the insurer had filed its DRHP on February 12. India’s markets regulator has approved the public listing of Life Insurance Corporation of India (LIC), sources told 'Business Standard' on Wednesday as the war in Ukraine casts a shadow over the state-owned firm’s IPO timing. The government is looking to sell a 5 per cent stake, or 316 million shares, in the insurer through the IPO. Investment banking sources said Sebi issued the so-called final observations on Tuesday evening. LIC IPO is one of the fastest to get Sebi approval; the insurer had filed its DRHP on February 12. Once a DRHP obtains final approval, the company can launch its share sale. However, LIC may not launch its IPO immediately given the volatile market conditions. Investment bankers said they would want to wait till the market sentiment improves. Benchmark indices have come off 9 per cent this year amid a surge in global oil prices following Russia'