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10 merchant bankers, including Goldman Sachs, JPMorgan

10 merchant bankers, including Goldman Sachs, JPMorgan
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10 merchant bankers, including Goldman Sachs, JPMorgan

10 merchant bankers, including Goldman Sachs, JPMorgan

New Delhi, Aug 29 (PTI) The government has selected 10 commercial bankers, including Goldman Sachs Group Inc., JPMorgan Chase and ICICI Securities, to manage the initial public offering (IPO) of Life Insurance Corporation (LIC). LIC is the largest insurance company in the country.

Ten domestic and international companies made submissions to the Department of Investment and Public Property Management (DIPAM) on August 26 to play the role of Book Running Lead Manager (BRLM) for this IPO. It is being described as the largest IPO in the country’s history.

“A total of 10 BRLMs have been selected, including Goldman Sachs Group Inc., JPMorgan Chase & Company, ICICI Securities Ltd., Kotak Mahindra Capital Co., JM Financial Ltd., Citigroup Inc. and Nomura Holdings Inc. IPO,” an official said. It’s done. ”

The basic value of LIC is being determined after the selection of merchant bankers. Once this assessment comes out, the government will proceed with the IPO and submit the documents to the Securities and Exchange Board of India (SEBI).

Milliman Advisors LLP India, an actuarial company, is working on a basic valuation of LIC. Deloitte and SBI Caps have been appointed as pre-IPO transaction advisors. The government intends to list LIC in the IPO and stock exchange in the January-March quarter of 2022.

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