Industry

DIPAM picks 10 merchant bankers for LIC IPO

The government has appointed 10 merchant bankers, including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India, to manage the mega initial public offering of the country’s largest insurer LIC.

Other bankers selected are SBI Capital Markets, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities and Kotak Mahindra Capital Co Ltd, the disinvestment department said in a circular on its website. “Government has finalised the book running lead managers and some other advisors for the IPO of LIC,” the Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey tweeted.

DIPAM had invited applications from merchant bankers on July 15. Following this, 16 applicants made presentations for managing the listing and partial disinvestment of Life Insurance Corporation (LIC). The department is also in the process of appointing a legal adviser for the stake sale.


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Printable version | Oct 25, 2021 7:52:37 AM | https://www.thehindu.com/business/Industry/dipam-picks-10-merchant-bankers-for-lic-ipo/article36368396.ece

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