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LIC IPO: 11 in the race as financial bids for pre-IPO Transaction Advisors opens today

LIC IPO: 11 in the race as financial bids for pre-IPO Transaction Advisors opens today

LIC IPO: 11 in the race as financial bids for pre-IPO Transaction Advisors opens today
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By CNBC-TV18 Jul 24, 2020 12:30 PM IST (Published)

The government will open financial bids today for the appointment of pre-IPO Transaction Advisor for the listing of Life Insurance Corporation of India (LIC) through IPO.

The government will open financial bids on Friday for the appointment of pre-IPO Transaction Advisor for the listing of Life Insurance Corporation of India (LIC) through IPO. As many as 11 entities are in the race for the appointment of pre-IPO Transaction Advisors for the state-run insurance behemoth.

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These entities include Axis Capital, Citigroup Global Markets, CLSA, Credit Suisse Securities, Deloitte India, Edelweiss Financial Services, IDFC Securities, IIFL Securities, JM Financial, SBI Capital Markets and YES Securities.
On June 19, the central government had kickstarted the process of partial divestment of stake in LIC with the finance ministry inviting bids from consulting firms, investment bankers, and financial institutions for advising it on the proposed initial public offer (IPO).
All the bidders will make presentations to the government today and the financial bids will be opened immediately after the presentations are over.
Finance Minister Nirmala Sitharaman in her 2020-21 budget speech had announced the government's plan to sell a part of its holding in LIC by way of IPO.
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