Stock Groups

Indian government plans to raise nearly $4 billion via mega LIC IPO -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : Exterior view of Life Insurance Corporation of India’s eastern zone head office in Kolkata (India), February 14, 2022. REUTERS/Rupak De Chowdhuri

By Aftab Ahmed

MUMBAI, (Reuters) – The Indian government plans to raise approximately 300 billion Indian rupees (3.93 billion USD) by selling a little more than 5% of the insurance giant Life Insurance Corporation of India.

According to the source, the Indian government valued LIC at approximately 6 trillion rupees.

($1 = 76.3510 Indian Rupees)

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