India’s $8b IPO plans could go under review amidst Russian-Ukraine crisis

The IPO was scheduled to launch this March.

India is likely to review the opening launch of its initial public offering (IPO) for the Life Insurance Corporation (LIC) amidst the ongoing war between Russia and Ukraine, finance minister Nirmala Sitharaman said.

"When I last commented on this matter, the tension was building up. Now there’s a full-scale war. Therefore, I need to go back and review the situation,” Sitharaman said in an interview with Hindu Business Line.

The FM said ‘ideally’ the government will go through with the launch, however, if global considerations warrants that they need to take another look at it, they will.

Just last week, the federal cabinet approved a policy amendment that will allow foreign direct investments of up to 20% in LIC.

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The state-owned insurer’s IPO is considered to be the biggest IPO in India that could potentially raise $8b.