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01-01-1970 12:00 AM | Source: Reuters
Indian government plans to raise nearly $4 billion via mega LIC IPO
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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)
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