LIC Exits AI Debt At A Profit Before Handover
Business Standard|January 27, 2022
The Life Insurance Corporation of India (LIC) has exited its entire investment in Air India's (AI's) debt instruments before the airline is handed over to Tata Group on Thursday, as part of the government's privatisation programme.
Dev Chatterjee

According to a banking source, the government-owned insurer sold its holding of 3,800 crore back to the airline after AI offered to pre-pay debt worth 12,900 crore to investors.

LIC, which had invested 3,000 crore, exited at a premium and will not invest in the airline in future as it will now be owned by a private limited company, said a source close to the development.

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