Exclusive-Indian bankers push govt to defer LIC IPO amid Russia-Ukraine crisis -sources

By Reuters

Bankers advising Indian state-run Life Insurance Corp (LIC) on its IPO have pushed the government to defer the launch of the stock offering in the wake of the market jolt caused by Russia's invasion of Ukraine, two sources familiar with the talks told Reuters. In what will be the biggest stock offering in India, the government has plans to raise about $8 billion by selling 5% of LIC's stake this month before the fiscal year ends on March 31. But two bankers familiar with discussions said the investment banks on the deal were piling pressure on the government and raised concerns in a recent closed-door meeting to delay the IPO by saying market conditions were no more conducive due to volatility caused by Russia-Ukraine tensions.

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Via:: Sports Headlines


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