 "IDBI Bank")
The government will start reaching out to potential investors and begin road shows for the delayed strategic sale of IDBI Bank after it launches the initial public offering (IPO) of Life Insurance Corporation of India (LIC), officials in the know said. The Centre, learning from its experience from Air India’s divestment, will structure the sale of the lender after taking investors’ feedback, they added.
The task of debuting India’s largest insurer on the stock exchanges, which involved making a lot of legislative and compliance changes, has completely occupied officials to ensure its grand success. The Department of Investment and Public Asset Management (DIPAM) is racing against time to launch the LIC IPO, which could become the largest-ever listing on the Indian
