Government has already met one-third of its Rs 65,000-cr disinvestment target for this year. But legal and procedural delays with high-value companies are now posing hurdles.
Guaranteeing a 3%-4% regular dividend may make LIC investors stay put, but having to hold the shares long-term in a volatile market may make them uncomfortable.
The shares fell as much as 9.4% to Rs 860 versus their IPO price of 949, before paring about half of the losses. LIC is the fourth-largest deal among global IPOs priced this year.
LIC’s debut comes at a time when capital-market activities have significantly slowed globally as the war in Ukraine stokes market volatility and saps investor appetite.
The next time you see a post featuring a sari-clad woman at a party or a travel reel from an unknown location, ask yourself — how does her joy threaten yours?
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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