September 27, 2021

Centre to finalize investment bankers for LIC IPO this week

The department of investment and public asset management (Dipam) will this week select investment bankers for the mega initial public offering (IPO) of Life Insurance Corporation (LIC) with 16 book-running lead managers set to make presentations before a high-level committee on Tuesday and Wednesday.

On Tuesday, international investment banks BNP Paribas, Citigroup Global Markets India Pvt. Ltd, BofA Securities (formerly known as DSP Merrill Lynch Ltd), Goldman Sachs (India) Securities Pvt. Ltd, HSBC Securities and Capital Markets (India) Pvt. Ltd, J.P. Morgan India Pvt. Ltd and Nomura Financial Advisory and Securities (India) Pvt. Ltd will make their virtual presentations.

On Wednesday, domestic investment bankers such as Axis Capital Ltd, DAM Capital Advisors Ltd, HDFC Bank Ltd, ICICI Securities Ltd, IIFL Securities Ltd, JM Financial Ltd,…

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