LIC IPO News: Sunil Agarwal was the CFO of Reliance Nippon Life Insurance for quite some time. Preceding that he has worked with ICICI Prudential Life Insurance for quite a long time.
LIC New CFO: LIC (Life Insurance Corporation), the country’s biggest insurance agency, has selected Sunil Agarwal as the CFO of LIC prior to posting in the financial exchange. Before this, Sunil Agarwal was the CFO of Reliance Nippon Life Insurance for a long time. Before that he has worked with ICICI Prudential Life Insurance for a long time.
Preceding Sunil Agarwal’s arrangement, Shubhangi Sanjay Soman was posted as Executive Director in Finance and Accounting (F&A) at LIC. The post of Executive Director has been changed to CFO as now LIC is planning for posting on the stock trade. LIC had invited applications for the post of CFO in September last year.
. LIC had said in a public notification that the post of CFO would be on agreement with a residency of three years or till the individual concerned arrives at the age of 63 years. Additionally, the compensation for the post will be Rs 75 lakhs for every annum.
The IPO of LIC has gone under the scanner because of worldwide strains after Russia’s tactical activity in Ukraine. The timetable of LIC’s IPO can be stretched out considering the unpredictability in the securities exchanges after the continuous conflict among Russia and Ukraine.
The size of LIC IPO can be more than Rs 66,000 crore. LIC has recorded a draft paper with SEBI and it is acknowledged that in the essential multi day stretch of March itself, LIC will get support from the market regulator to bring IPO.