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.
Lt Gen Hardev Singh Lidder’s book on Operation Sarp Vinash shows why the Indian Army’s 2003 campaign to clear terrorist strongholds in Rajouri-Poonch still matters today.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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