 "LIC")
India is considering a proposal for foreign investors to own as much as 20% in Life Insurance Corporation, according to a person with knowledge of the matter, which would enable them to participate in the nation’s biggest initial public offering.
Under discussion is a plan to amend FDI rules so that investors can pick up the stake without the government’s approval under the so-called automatic route, the person said, asking not to be identified as the deliberations are private. Government officials are due to meet and discuss the proposal as early as Wednesday afternoon in New Delhi, the person said.
A finance
