Govt appoints 10 merchant bankers for managing IPO of LIC

The government has appointed ten merchant bankers including SBI Capital Market Limited, Goldman Sachs (India) Securities, Citigroup Global Markets India and Nomura Financial Advisory and Securities India to manage the Initial Public Offering, IPO of Life Insurance Corporation of India, LIC.

The IPO of LIC is likely to be launched in the January-March quarter of 2022. The role of merchant bankers in the case of IPO is of Issue management, Promotional activities, Credit syndication, Project counselling, and Portfolio management, etc.

The name of these merchant bankers are:

• Goldman Sachs (India) Securities
• Citigroup Global Markets India
• Nomura Financial Advisory and Securities India
• SBI Capital Market
• JM Financial
• Axis Capital
• BofA Securities
• JP Morgan India
• ICICI Securities
• Kotak Mahindra Capital Co Ltd.