• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

16 Merchant Banks Lineup for Handling India’s Biggest Ever IPO

September 5, 2021 by Jennifer Preston Leave a Comment

Over August 2021, bankers interested in managing LIC’s IPO will give presentations to the Department of Investment and Public Asset Management (DIPAM). With the current government pushing ahead with the selling of stock in the Life Insurance Corporation of India (LIC), as many as 16 merchant banks have expressed interest in handling the much-anticipated IPO. The presentation will be given during the following two days, August 24-25. The LIC share sale procedure is overseen by this department, which is subordinate to the Indian Ministry of Finance.

LIC’s IPO, which is expected to be the nation’s largest stock offering, is critical to the central government’s privatization aim after COVID-19 put a wrench in the works last year. In this fiscal year, the administration plans to sell its stake in the life insurance behemoth. For the fiscal year 2021-22, the government has set a privatization goal of USD 24 Billion. It has raised USD 114 Million already this fiscal year through minor share sales in PSUs and the selling of SUUTI’s interest in Axis Bank. Seven foreign lenders are among the bankers interested in managing this IPO. On 17th Aug 2021, bankers will deliver presentations to DIPAM. BNP Paribas, DSP Merrill Lynch, now known as BofA Securities, Citigroup Global Markets India, Goldman Sachs India Securities, JP Morgan India, HSBC Securities and Capital Markets (India), and Nomura Financial Advisory and Securities are among the banks that will be presenting. 9 domestic bankers will be presenting to DIPAM on Wednesday. Axis Capital Ltd., HDFC Bank, DAM Capital Advisors, ICICI Securities, as well as IIFL Securities would be among the companies involved. Kotak Mahindra Capital, JM Financial Ltd., SBI Capital Market, as well as YES Securities India Ltd., will also be presenting on the very same day.

DIPAM had requested merchant bankers keen on handling this IPO to submit applications on July 15. This inaugural share offering will be managed by a team of up to 10 Book Running Lead Managers (BRLMs). There was a deadline for proposals of August 5. CCEA authorized LIC’s initial public offering plan last month. After this, the government’s Alternative Mechanism on Strategic Disinvestment will determine the number of shares to be sold. There is no precedence in Indian markets for the scale of the prospective IPO. In preparation for the first public offering, the ministry had commissioned actuarial company Milliman Advisors LLP India to analyze LIC’s inherent value. As pre-IPO transaction advisers, Deloitte and SBI Caps have been selected. Amit Agarwal, Additional Secretary at the Finance Ministry, stated last week that post this IPO, roughly 60% of the insurance company will belong to the listed businesses. Data of the insurance industry in India is widely available on various analytical research platforms.

Jennifer Preston
Jennifer Preston

Related posts:

  1. FDA Postponed Foreign Reviews Citing Coronavirus Epidemic
  2. Facebook To Take On Apple With Smartwatch, Roll Out Expected By Next Year
  3. 28 Individuals Killed in Eastern Russian Plane Crash
  4. Zoom Video Communications To Buy Cloud Contact Center Provider Five9 For USD 14.7 Billion

Filed Under: Business

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Unethical Experiments: When Scientists Really Should Have Stopped What They Were Doing Immediately
  • The First Humans Were Hunted By Leopards And Weren’t The Apex Predators We Thought They Were
  • Earth’s Passage Through The Galaxy Might Be Written In Its Rocks
  • What Is An Einstein Cross – And Why Is The Latest One Such A Unique Find?
  • If We Found Life On Mars, What Would That Mean For The Fermi Paradox And The Great Filter?
  • The Longest Living Mammals Are Giants That Live Up To 200 Years In The Icy Arctic
  • Entirely New Virus Detected In Bat Urine, And It’s Only The 4th Of Its Kind Ever Isolated
  • The First Ever Full Asteroid History: From Its Doomed Discovery To Collecting Its Meteorites
  • World’s Oldest Pachycephalosaur Fossil Pushes Back These Dinosaurs’ Emergence By 15 Million Years
  • The Hole In The Ozone Layer Is Healing And On Track For Full Recovery In The 21st Century, Thanks To Science
  • First Sweet Potato Genome Reveals They’re Hybrids With A Puzzling Past And 6 Sets Of Chromosomes
  • Why Is The Top Of Canada So Sparsely Populated? Meet The “Canadian Shield”
  • Humans Are In The Middle Of “A Great Evolutionary Transition”, New Paper Claims
  • Why Do Some Toilets Have Two Flush Buttons?
  • 130-Year-Old Butter Additive Discovered In Danish Basement Contains Bacteria From The 1890s
  • Prehistoric Humans Made Necklaces From Marine Mollusk Fossils 20,000 Years Ago
  • Zond 5: In 1968 Two Soviet Steppe Tortoises Beat Humans To Orbiting Around The Moon
  • Why Cats Adapted This Defense Mechanism From Snakes
  • Mother Orca Seen Carrying Dead Calf Once Again On Washington Coast
  • A Busy Spider Season Is Brewing: Why This Fall Could See A Boom Of Arachnid Activity
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version