FinMin invites bids from transaction advisers for LIC IPO.

Kick-starting the process of LIC disinvestment, the Finance Ministry recently invited bids from consulting firms, investment bankers, and financial institutions for advising it on the proposed initial public offer.

The government proposes to engage up to two pre-IPO transaction advisers, for assisting the Department of Investment and Public Asset Management (DIPAM) in the preparatory processes leading to the Initial Public Offer (IPO) of Life Insurance Corporation of India (LICI), tipped to be the largest ever in the country.

The government "proposes to engage up to two pre-IPO Transaction Adviser(s) from reputed professional consulting firms/investment bankers/ merchant bankers/financial institutions/banks, independently (not in the consortium) for facilitating/assisting DIPAM in the preparatory processes leading to the IPO of LICI," the Finance Ministry said in the Request For Proposal (RFP) for engaging pre-IPO transaction advisors.

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