Modi government has undervalued LIC: Rahul Gandhi

As LIC had its IPO opened yesterday, Rahul Gandhi tweeted "13.94 lakh employed, 30 crore policyholders, 39 lakh crore in assets and World #1 - ROI for Shareholders, Yet Modi government has undervalued LIC."
Modi government has undervalued LIC: Rahul Gandhi
Rahul Gandhi

CHENNAI: The LIC public offer, the country's biggest-ever IPO, was subscribed 90 per cent till noon by investors on the second day of bidding on Thursday. Amid this, Congress leader Rahul questioned, "Why is LIC being India's most valuable assets sold at a throwaway price?"

As LIC had its IPO opened yesterday, Rahul Gandhi tweeted "13.94 lakh employed, 30 crore policyholders, 39 lakh crore in assets and World #1 - ROI for Shareholders, Yet Modi government has undervalued LIC."

Rahul also questioned, "Why is one of India’s most valuable assets being sold at a throwaway price?"

Adding to it, he used the hashtag, #JanDhanLootYojana

IC public offer will remain open for subscription even on weekend to enable people to participate in the mega IPO of the state-owned insurer. This is perhaps for the first time the special dispensation is granted to any public offer.

As of December 2021, LIC had a market share of 61.6 per cent in terms of premiums or gross written premium, 61.4 per cent in terms of new business premium, 71.8 per cent in terms of the number of individual policies issued and 88.8 per cent in terms of the number of group policies issued.

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