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Published on 22/04/2022 12:21:54 PM | Source: Reuters

Indian government plans to raise nearly $4 billion via mega LIC IPO

Posted in IPO Analysis| #LIC #IPO #Government

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MUMBAI - The Indian government is planning to raise about 300 billion Indian rupees ($3.93 billion) from selling a just over 5% stake in insurance behemoth Life Insurance Corporation of India, a government source said.

The Indian government has pegged LIC's valuation at around 6 trillion rupees, according to the source.

($1 = 76.3510 Indian rupees)

 

(Reporting by Aftab Ahmed; Additional reporting by Nupur Anand; Editing by Tom Hogue)