Goldman, JPMorgan hired for India’s blockbuster IPOBloombergGoldman Sachs Group Inc, JPMorgan Chase & Co and ICICI Securities Ltd were among banks picked to work on Life Insurance Corp of India’s (LIC) initial public offering (IPO), in what is set to be the nation’s biggest listing. Banks would start engaging with investors from next month, with a potential listing expected between January and March next year, one of the people said. Indian Prime Minister Narendra Modi’s government is pushing ahead with LIC’s IPO to help plug a widening budget gap. India might also allow foreign direct investment in LIC to ensure a diversified and strong demand across investors. The listing could value LIC at as much as US$261 billion, analysts at Jefferies India led by Prakhar Sharma wrote in a note in February.

Source: Taipei Times August 30, 2021 03:33 UTC