Life Insurance Corporation’s chairman M R Kumar has assured buyers that firm is effectively capitalised
NEW DELHI:
State-run Life Insurance Corporation Of India (LIC), which is planning the nation’s largest preliminary public provide (IPO) subsequent month, is effectively capitalised, the corporate’s chairman M R Kumar stated on Monday.
Mr Kumar stated LIC’s potential buyers shouldn’t fear about authorities management submit the IPO as choices within the nation’s largest insurance coverage firm are taken by its board and never by the federal government, which can maintain 95 per cent of stake submit the IPO.
LIC is planning to promote a 5 per cent stake to lift about $8 billion subsequent month, which may make it India’s largest IPO by far.
