Govt appoints 10 merchant bankers for managing LIC IPO
The government has finalised the book running lead managers and some other advisors for the LIC IPO, as per DIPAM Secretary Tuhin Kanta Pandey. The 10 merchant bankers include Goldman Sachs (India) Securities, Citigroup Global Markets India, and N...
By ET Bureau | Updated:
ETBFSI
New Delhi: The government has appointed 10 top global and Indian merchant banks to manage the initial public offer of Life Insurance Corporation (LIC) of India. It has also selected Concept Communications as the advertising agency and Kfintech as the registrar and share transfer agent for the IPO. The Department of Investment and Public Asset Management said in a notice on Wednesday that it has appointed Goldman Sachs, JP Morgan, Citigroup, Nomura, Bank of America Securities, JM Financial, SBI Caps, Kotak Mahindra Capital, ICICI Securities and Axis Capital to manage the IPO.
These merchant banks will form a syndicate and advise DIPAM on the timing and floor price for the IPO, as per the terms in the request for proposal.
These merchant banks will form a syndicate and advise DIPAM on the timing and floor price for the IPO, as per the terms in the request for proposal.
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