New Delhi: LIC is likely to submit a draft paper with the November for the biggest IPO in the country’s history, a Ministry of Finance official said.
“We are targeting to bring an IPO in this fiscal and we have set a tight schedule.
DRHP will be submitted in November,” the official said.
The government last month appointed 10 trader bankers, including Goldman Sachs, Citigroup and Nomura, to manage the Mega IPO from the largest insurance company in the country.
After the Draft Red Herring Prospectus (DRHP) was submitted, Merchant Bankers will hold a global and domestic road show for investors in January, the official said.
Cyril Amarchand Mangaldas has been appointed as a legal advisor for the IPO.
The government aims to register insurance giants in the current fiscal.
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