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LIC Chairman M R Kumar gets extension till March 2022

Jun 9th, 2021 8:17 pm | By | Category: SPECIAL NEWS COVERAGE

Ramasubramanian Kumar, Chairman, LIC of India

The government has given a nine-month extension to LIC Chairman M R Kumar till March next year. The government has approved the proposal of the Department of Financial Services for extending the term of Kumar from June 30, 2021 till March 13, 2022, the date when he completes three years, sources said.

In her budget speech 2021, finance minister Nirmala Sitharaman said the initial public offer (IPO) of LIC would be floated in 2021-22 as part of the ambitious Rs 1.75 lakh crore disinvestment target.

The government owns 100 per cent stake in LIC. Once listed, it is likely to become the country’s biggest company by market capitalisation with an estimated valuation of Rs 8-10 lakh crore.

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