01-01-1970 12:00 AM | Source: Reuters
India expects to open LIC IPO issue by mid-March: sources
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MUMBAI - Life Insurance Corporation, India's largest insurer, is likely to file a draft prospectus as early as end of this month and begin issuing public shares by mid-March, one government and two banking sources with direct knowledge of the matter in New Delhi and Mumbai told Reuters.
The listing of LIC is set to be India's biggest ever IPO, with the government aiming to raise up to 900 billion rupees ($12.18 billion) from its stake sale.
($1 = 73.8750 Indian rupees)
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