LIC IPO: LIC's IPO process picks up pace, government appointed ten lead managers including Kotak Mahindra Capital

LIC IPO: LIC’s IPO process picks up pace, government appointed ten lead managers including Kotak Mahindra Capital

The government has accelerated the process of bringing LIC’s IPO. On Wednesday, the central government approved Kotak Mahindra Capital Company (Kotak Mahindra Capital Company) Goldman Sachs (Goldman Sachs India Securities), JP Morgan India (JP Morgan India), ICICI Securities and other investment banks including running appointed as lead manager.

Kotak Mahindra Capital including ten lead managers appointed

According to the DIPAM website, Kotak Mahindra Capital Company, Goldman Sachs India Securities, JP Morgan India, ICICI Securities, JM Financial, Citigroup Global Markets India, Nomura Financial Advisory and Securities (India), Axis Capital, DSP Merrill Lynch and SBI Capital Markets are Appointed Lead Manager for Book Running of IPO. Hyderabad-based company KFintech has been appointed as the Registrar and Share Transfer Agent of the IPO.

Mumbai-based Concept Communications has been appointed as the advertising agency. Earlier on September 2, the government had invited bids from legal advisors for the listing of LIC. LIC’s IPO could be the biggest IPO in the country.

SEBI’s big change in the stock market, transfer and settlement of shares will be completed in a day from the new year

LIC to raise Rs 90 thousand crores from IPO

Earlier reports had said that foreign institutional investors (FIIs) can be given 20 percent stake in LIC’s IPO. The government is considering this. According to the news of Reuters, the government is discussing with top officials on foreign stake. LIC’s IPO could be India’s biggest IPO ever. With this LIC can raise at least Rs 90,000 crore. LIC’s IPO has created a big debate about disinvestment in the country. Opposition parties including trade unions are opposing the process of disinvestment in LIC. At the same time, the government says that disinvestment will greatly improve the functioning of LIC. Along with this, it will also be easier for the government to meet its disinvestment target.

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