Centre's PSU disinvestment drive gets a helping hand from LIC, SBI

The government’s 2020-21 disinvestment drive would have been off to a rocky start if not for the helping hand from state-owned institutions, such as Life Insurance Corporation (LIC) and State Bank of India (SBI). The Centre kicked off this fiscal year's disinvestment programme with a Rs 4,900-crore offer for sale (OFS) from Hindustan Aeronautics (HAL) and followed it up with the Rs 770-crore OFS from Bharat Dynamics (BDL). The latest shareholding data for the two defence stocks revealed that LIC and SBI played white knight to the government. The life insurance giant.....

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