Govt to sell 5% in LIC in mother of all IPOs

NEW DELHI : The government aims to raise about 75,000 crore by selling a 5% stake in Life Insurance Corp. of India (LIC) through India’s largest-ever initial public offering, in what is expected to test investor appetite amid a volatile market.

According to the draft IPO documents filed with the Securities and Exchange Board of India (Sebi), the government will sell 316.25 million shares through an offer for sale (OFS).

Govt to sell 5% in LIC in mother of all IPOs

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