LIC IPO bankers quote base fee of Rs 1 crore: Check details here

10 investment banks to divide fee pool; opt to go out-of-pocket

Investment bankers have quoted a fee of Rs 1 crore--the minimum set by the government--for handling the share sale of the Life Insurance Corporation of India (LIC), said four people with knowledge of the development.

According to a Dipam official, the 10 selected investment bankers will get Rs 1 crore each for managing the initial public offering.The IPO--the biggest ever to hit the domestic markets--will boost the league table standings for the banks involved in the share sale.

According to sources, the Department of Investment and Public Asset Management (DIPAM) has selected Goldman Sachs, Kotak Mahindra Bank, ICICI Securities, JP Morgan,