LIC IPO: Supreme Court issues notice to Centre

New Delhi: Supreme Court on Thursday refused to grant interim relief to a matter related to LIC IPO.

However, the apex court issued notice to Centre on pleas challenging the constitutional validity of provisions of Finance Act, 2021 and sections of LIC Act.

The decision was taken by a bench of Justices DY Chandrachud, Surya Kant and PS Narasimha.

The union government has opposed a batch of petitions against the LIC IPO.

The petitioners challenged the legality of the Centre’s move to pass the decision to launch the LIC’s IPO through a Money bill.

The LIC IPO will be listed on the stock markets on May 17 subject to regulatory approvals. The issue has been subscribed 2.95 times.