LIC IPO
Government appoints Kotak Mahindra, JP Morgan, Goldman Sachs, others as intermediaries
LIC has named Kotak Mahindra Capital Company, Goldman Sachs India Securities, JP Morgan India, ICICI Securities, JM Financial, Citigroup Global Markets India, Nomura Financial Advisory and Securities (India), Axis Capital, DSP Merrill Lynch, and SBI Capital Markets as book running lead supervisors, says a roundabout on DIPAM site.
Hyderabad-based KFintech has been appointed as registrar and share transfer agent. Meanwhile, Mumbai-based Concept Communications has been chosen as advertising agency.
Earlier on September 2, the government for the second time sought bids for legal advisors for the listing of Life Insurance Corporation (LIC), which is expected to be the largest public offering in the Indian history.
The Department of Investment and Public Asset Management (DIPAM) said the last date for the offers is September 16. DIPAM Secretary Tuhin Kanta Pandey as of late said he expects the LIC inclining to happen in the current financial year (2021-22).
During the Budget discourse for FY22, the public authority reported a driven divestment focus of Rs 1.75 lakh crore. A large portion of this sum is relied upon to be cleaned up through the LIC IPO and privatization of various organizations including Air and Bharat Petroleum Corporation (BPCL).