The government has kicked off the process to launch the initial public offer (IPO) of insurance giant Life Insurance Corporation of India (LIC) — the mainstay of this financial year’s ambitious Rs 2.1-trillion disinvestment target. The Department of Investment and Public Asset Management (Dipam), the nodal agency for conducting divestments, on Friday screened 11 companies to play the pre-IPO transaction advisor’s (TA’s) role for the proposed IPO.
Citibank, CLSA, and Credit Suisse were among the foreign investment banks that applied for the role. Over half a ...
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