NEW DELHI : Listing of Life Insurance Corporation (LIC) and sale of government's stake in IDBI Bank may be delayed beyond March 2021, due to depressed valuation amid COVID-19 pandemic.
The government aims to garner ₹90,000 crore from the listing of LIC and stake dilution in IDBI Bank out of total the disinvestment target of ₹2.10 lakh crore during the current fiscal.
Finance Minister Nirmala Sitharaman while presenting the Budget 2020-21 had announced stake sale in LIC through an initial public offer in the current financial year.
Given the prevailing market situation, it seems to be difficult to do the LIC stake sale in the current fiscal as the situation is not conducive, sources said.