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Centre invites bids from actuarial firms for valuing LIC

Tuesday, 17 Nov 2020
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The Finance Ministry has invited bids from actuarial firms for arriving at the embedded value of the Life Insurance Corporation (LIC) ahead of its stake sale.

The government plans to sell minority stake in LIC and list it on the bourses. It has already appointed Deloitte and SBI Caps as pre-IPO transaction advisors.

In the bid notice, the Department of Investment and Public Asset Management (DIPAM) has stated that LIC needs to develop an Indian Embedded Value (IEV) reporting framework for necessary disclosures for the proposed Initial Public Offering (IPO).

Embedded value is a common valuation measure used to estimate the consolidated value of shareholders' interest in an insurance company.

The last date for submission of bids is 8 December 2020.

The government has budgeted to collect Rs 2.10 trillion from stake sales in FY21. This include Rs 1.20 trillion from Central Public Sector Enterprises (CPSE) disinvestment and Rs 90,000 crore from selling stake in financial institutions.

So far in FY21, the government has been able to mop up Rs 6,138 crore from CPSE disinvestment.

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