The much-anticipated IPO of LIC will not crowd out capital and monetary supply, said Tuhin Kanta Pandey, secretary at the Department of Investment and Public Asset Management (DIPAM).
Pandey said, "This is right-sized considering the capital market environment and will not crowd out capital and monetary supply, given the current environmental constraints."
He said the government wants to champion LIC as a long-term value creator in the equity market.