Govt to hire Deloitte, SBI Capital Markets to help LIC prepare for IPO

Prime Minister Narendra Modi's government is keen to go ahead with the initial public offering -- potentially India's biggest -- to help plug a widening budget gap.

India is poised to hire Deloitte Touche Tohmatsu India Ltd. and SBI Capital Markets Ltd. to help Life Insurance Corp. of India prepare for an initial share sale, people with knowledge of the matter said.
 

The advisers will help evaluate the capital structure of India’s biggest insurer as well as aid the company in reworking its financial statement, according to a tender document issued in June. The government will soon invite bids seeking firms to value LIC, the people said asking not to be identified citing rules on speaking to the media.

Prime Minister Narendra Modi’s government is keen to