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India seeks $109b valuation for LIC mega IPO: report
It is slated to be the biggest IPO in the country.
India is seeking at least $109b (₹8t) for Life Insurance Corp., according to a report by Bloomberg.
The report said that the government is mulling selling a 5% to 10% stake in the company that could raise ₹400b to ₹1t.
The funds from the initial public offering will help the government’s goal to raise ₹1.75t by March.
Once the plans are pushed through, this could become the nation’s biggest IPO to date.
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