Posted on 04/16/2022
The Securities and Exchange Board of India (Sebi) has approved the IPO of Life Insurance Corporation.
Abu Dhabi Investment Authority, Qatar Investment Authority, Singapore-based GIC Private Limited and three Canadian pension funds are among some public asset owners that are anchor investors in India-based Life Insurance Corporation (LIC). The proportion of anchor investment is expected to be around Rs.18,000. The Indian government intends to raise up to US$10 billion (around Rs.75,000) through the IPO of LIC. The Indian government will sell 5% of the public issue and around 316 million shares are to be sold.
Banks such as JP Morgan, Goldman Sachs, Bank of America Securities, SBI Capital Markets, Kotak Mahindra, Citigroup, Axis Bank, Nomura, ICICI Securities and JM Financial manage the stock sale.
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