NEW DELHI (Reuters) – Indian government is considering allowing foreign institutional investment of up to 20% in Life Insurance Corporation, according to a government source.
The listing of LIC is set to be India’s biggest ever IPO, with the government aiming to raise up to 900 billion Indian rupees ($12.24 billion) from its stake sale.
($1 = 73.5350 Indian rupees)
(Reporting by Aftab Ahmed; Editing by Andrew Heavens)
