Finance Ministry begins process for LIC disinvestment

New Delhi, June 19

Kick-starting the process of LIC disinvestment, the Finance Ministry on Friday invited bids from consulting firms, investment bankers, and financial institutions for advising it on the proposed initial public offer (IPO).

The government proposes to engage up to two pre-IPO transaction advisers, for assisting the Department of Investment and Public Asset Management (DIPAM) in the preparatory processes leading to the Initial Public Offer (IPO) of Life Insurance Corporation of India (LIC), tipped to be the largest ever in the country.

The bids can be submitted till July 13 and would be opened on July 14. — PTI