Govt appoints 10 merchant bankers for managing mega LIC IPO

The bankers include Goldman Sachs (India) Securities, Citigroup Global Markets India, BofA Securities, JP Morgan India

The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC.

Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said.

"Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted.

The disinvestment department had invited applications for the appointment of merchant bankers on