Government working on bringing DRHP for LIC IPO this month

The government is working on bringing the DRHP (draft red-herring prospectus) for the Life Insurance Corporation (LIC) IPO in January itself.

Also, a small tweak in the FDI policy needs to be done for enabling foreign participation in the IPO. The proposal is to cap it at 20 percent odd and DPIIT is still working on that. A cabinet nod is expected soon.

At the same time on BPCL divestment, the government is not in a position to say if bids will be received by March-end and there is uncertainty on that front.