The much-awaited LIC IPO is expected to hit the market by the fourth quarter of the current fiscal, said Department of Investment and Public Asset Management Secy Tuhin Kanta Pandey.
The government is seeking to raise as much as Rs 10 trillion ($133 billion) by selling up to a 10% stake. The sale of a 5% stake would make it India’s largest IPO, while a 10% dilution would make it the second-biggest of an insurer globally, Bloomberg reported.
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