New Delhi (TIP)-Finance Minister Nirmala Sitharaman on Tuesday said the government will go ahead with the initial public offering (IPO) of Life Insurance Corporation (LIC) amid concerns being raised over the possible impact of the escalating tension between Russia and Ukraine. She, however, said the government is “equally worried if the market situation is conducive”.

“The LIC draft red herring prospectus (DRHP) is out and we are seeing quite a buzz in the market about it. We are moving ahead with it,” said Sitharaman.On February 13, LIC had filed its DRHP with the market regulator. The government plans to sell nearly 5 per cent stake in the life insurance giant for around Rs 65,000 crore, which could make it the most valuable company in the country.Sitharaman said that the government is watching the Russia-Ukraine crisis closely. On being asked about its impact on trade, the Finance Minister said the Russia-Ukraine impact was yet to be felt on trade and added that the government is careful that exports do not suffer.