A day before the mega LIC initial public offering listing, the Congress on Tuesday shredded the government as it asked four pointed questions, alleging that the “confidence and trust of 30 crore policy holders has been valued at throwaway prices”.
Congress’s Randeep Surjewala in a tweet on Tuesday targeted Prime Minister Narendra Modi, and wrote: “Fire sale of India’s assets continues, as “ Jumlas of Tube light” are dished out in a season of total electricity failure! Is Modi Govt breaching the trust of 30 crore #LIC policyholders? (sic)”.
The insurance giant on Tuesday said it garnered a little over ₹5,627 crore from anchor investors led primarily by domestic institutions a day before, news agency PTI reported.
In what has been said to be one of the biggest IPOs in the Indian market, the government aims to raise ₹21,000 crore by diluting 3.5 percent of stakes.
The IPO will be listed for public tomorrow.