Banks to reach out to anchor investors for LIC IPO after Paytm delay

LIC IPO: Bankers, government officials and LIC staff are working around the clock to complete the preparatory work for the IPO and ensure there's enough demand for the mega sale

Bankers will next week start discussions with potential anchor investors in the initial public offering of Life Insurance Corporation of India, according to people familiar with the matter, to help the government stick to its March deadline for what’s set to be the nation’s biggest share sale.
 

The 10 underwriters will reach out to as many as 40 global firms about two weeks later than planned, the people said, asking not to be identified discussing private details. That’s because several of these firms were key investors in the IPO of fintech giant Paytm, which roiled sentiment when it tumbled on