Life Insurance Corporation of India

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Life Insurance Corporation of India

India to sell 5 percent of insurance giant in IPO

Published by Hurriyet on Tue, 02/15/2022 - 05:00

India plans to sell a 5-percent stake in insurance giant LIC in what could potentially be the country's largest initial public offering, according to a regulatory filing on Feb. 13.

Prime Minister Narendra Modi's government is desperate for proceeds from the IPO of the Life Insurance Corporation of India and the sale of other state assets to help fix its tattered public finances.