LIC IPO Soon, Suggests Government's New Forex Act Notification: 5 Points - NDTV Profit

To allow large foreign portfolio investors (FPIs) to subscribe to shares in the public listing of the insurance behemoth, Life Insurance Corporation (LIC), the government has amended the rules of Foreign Exchange Management Act (FEMA).

The FEMA notification is required to operationalise the already approved and revised Foreign Direct Investment (FDI) policy to facilitate 20 per cent overseas investment in the mega initial publi… [+1189 chars]

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