Indian law firms reluctant to advise on mega LIC IPO: Report

LIC's huge size, complexity a deterrent and poor govt fee for law firms another dampener, say law firms

India’s plans to list state-run Life Insurance Corporation (LIC) face an unusual problem: domestic law firms are shying away from advising the government, deterred by the low fees on offer at the time of a lucrative boom in corporate stock listings.

With millions of policyholders and a share of 66% of new premium collections in a crowded insurance market, LIC is a household name, managing assets of more than $450 billion.

The government is scrambling to list the insurance behemoth by March, in an exercise set to be India’s biggest IPO, at a probable $12 billion. As many as 16