Modi government's crackdown on China, no-entry of Chinese investors in LIC IPO!
The Government of India wants to stop Chinese investors from buying shares in Life Insurance Corporation (LIC). LIC's IPO is about to come in the next few months. New Delhi: The Government of India wants to stop Chinese investors from buying shares in Life Insurance Corporation (LIC). LIC's IPO is about to come in the next few months. The central government is considering allowing foreign investments in IPOs. However, it wants to prevent Chinese investors from buying its shares. The news agency Reuters has given this information quoting 4 senior government officials and a banker. This development shows the tension arising after the border dispute between the two countries. Let us tell you that LIC is the largest insurance company in the country and its stake is more than 60 percent of India's life insurance market with assets of more than $ 500 billion. The potential size of LIC's IPO is $12.2 billion and it could be the largest IPO in the ...