InvestorQ : What has been the progress on the LIC IPO?
Moii Chavate made post

What has been the progress on the LIC IPO?

Tisha Malhotra answered.
1 year ago

There is surely a lot of action that is happening on the LIC IPO front. During the previous week, the DIPAM shortlisted 10 investment banks out of the 16 who had put in their bids for the mandate. The list includes 5 international banks and 5 Indian investment banks. The actual BRLMs and advisors will be announced later. The next step is filing draft prospectus for the proposed IPO which is expected to happen over the next couple of months.

There has been more action. For instance, the world renowned Millman Group is conducting actuarial valuation of LIC. That is yet to be fully completed. KFintech, formerly Karvy Computershare, has been appointed as the registrar to the IPO. The one appointment left is the legal advisors to the issue, for which DIPAM has invited bids on 16-Sep. In short, the government and DIPAM are firing on all cylinders to make the LIC IPO a success.