India Considers Seeking $6.6 Billion in Mega LIC IPO
- The government is discussing selling up to 7% stake in LIC
- LIC could overtake Paytm as India’s biggest IPO of all time
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India is considering seeking around 500 billion rupees ($6.6 billion) next month from the initial public offering of state-owned Life Insurance Corp., people with knowledge of the matter said.
The government is discussing selling as much as a 7% stake in LIC through the listing, according to the people, who asked not to be identified because the information is private. It aims to launch the share sale before current approvals for the offering expire on May 12, the people said.