NEW DELHI: LIC is likely to file draft papers with Sebi by November for the largest IPO in the country’s history, a finance ministry official has said.
“We target to bring the IPO within this fiscal and we have set strict timelines. The DRHP would be filed by November,” the official said.
The government last month appointed 10 merchant bankers, including Goldman Sachs, Citigroup and Nomura , to manage the mega IPO of the country’s largest insurer.
Once the draft red herring prospectus (DRHP) is filed, merchant bankers will hold global and domestic road shows for investors by January, the official said.
Cyril Amarchand Mangaldas has been appointed as legal adviser for the IPO. The government is aiming to list the insurance behemoth within the current fiscal.
