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LIC looking to hire CFO ahead of mega IPO this fiscal year

LIC looking to hire CFO ahead of mega IPO this fiscal year

The move to hire a CFO follows a decision to re-designate LIC's top job to chief executive officer from chairman earlier this year

Recently, government appointed ten investment banks including Goldman Sachs, Citigroup and SBI Capital Market to handle the offering. Recently, government appointed ten investment banks including Goldman Sachs, Citigroup and SBI Capital Market to handle the offering.

State-backed Life Insurance Corp of India (LIC) is seeking to appoint a chief financial officer, according to a notification on its website, ahead of an initial public offering slated before the end of the fiscal year.

The move to hire a CFO follows a decision to re-designate LIC's top job to chief executive officer from chairman earlier this year.

LIC is currently under going a valuation exercise for an IPO that could be India’s biggest ever as the government seeks to raise around 900 billion Indian rupees by selling 5 percent-10 percent stake in the company by the end of the fiscal year that runs through March.

Recently, government appointed ten investment banks including Goldman Sachs, Citigroup and SBI Capital Market to handle the offering.

 

Also Read: LIC IPO: Govt shortlists Cyril Amarchand Mangaldas as legal advisor

 

Also Read: Confident about LIC listing taking place by fourth quarter of this year: CEA K Subramanian