Govt considers seeking Rs 50,000 cr in mega LIC IPO next month: Report

The government is discussing selling as much as a 7% stake in LIC through the listing, say people with knowledge of the matter

India is considering seeking around Rs 50,000 crore ($6.6 billion) next month from the initial public offering of state-owned Life Insurance Corp, people with knowledge of the matter said. 

The government is discussing selling as much as a 7% stake in LIC through the listing, according to the people, who asked not to be identified because the information is private. It aims to launch the share sale before current approvals for the offering expire on May 12, the people said. 

Centre is looking at a mid-May timeline for launching the mega initial public offering of its largest insurer with hopes that the