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 methods of the welfarist reduce the productivity of human effort and thus affect the welfare of the invalids as well as of the able-bodied. This is a greater injustice, BS Sanyal wrote in 1957.
Regulator seeks feedback on allowing firms to repurchase shares via exchanges after tax changes, as markets reel from war-led selloff and foreign outflows.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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