LIC IPO: Global market sell-off raises stakes for India's biggest listing

Landing the listing, which is slated for next month, will test India's capital markets at a time when about $5 trillion has been wiped out from global equities

India is pushing ahead with the nation’s largest initial public offering, a mammoth task made even tougher by inflationary concerns and a challenging global market for investors.

Prime Minister Narendra Modi’s government plans to sell a 5% stake in Life Insurance Corp. of India and must raise about Rs 60,000 crore to help fill a gaping budget deficit. Even at a scaled down version of its original blueprint, which at one point aimed for more than $10 billion, the offering could be a hard sell.

Landing the listing, which is slated for next month, will test India’s capital markets at a time