India Seeks $109 Billion Valuation In Insurer’s Mega IPO
- The valuation may change after due diligence, valuer’s report
- Early talks indicate the government plans to sell 5%-10% stake
A Life Insurance Corporation building in Kolkata, India.
Photographer: Debarchan Chatterjee/NurPhoto/Getty Images
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India is seeking a valuation of between 8 trillion rupees ($109 billion) and 10 trillion rupees for state-backed Life Insurance Corp. in what’s slated to be one of the nation’s biggest initial public offering.
The government is considering selling a 5%-10% stake in the company, which could raise between 400 billion rupees and 1 trillion rupees, according to people with knowledge of the matter, who asked not to be identified as the matter is private.