India’s largest insurance company Life Insurance Corp (LIC) is preparing for an IPO next year with a listing value of $250 billion. Goldman Sachs, JPMorgan Chase and ICIC Securities are chosen to work on sale.
Among other banks picked to work on what is set to be India’s largest initial public offering are Kotak Mahindra Capital, JM Financial, Citigroup and Nomura Holdings. They have been selected after 16 investment firms applied to the country’s government which holds a stock of LIC shares. The information however has not been made public yet and no official confirmation from the banks has been provided.
