Life Insurance Corp of India has appointed Sunil Agrawal as the chief financial officer, according to people familiar with the matter, as the state-backed insurer prepares for the nation’s largest initial public offering.
The government was expecting to garner Rs 63,000 crore by selling 5 per cent stake in the life insurance firm to meet the curtailed disinvestment target of Rs 78,000 crore in the current fiscal.
LIC IPO: As per the DRHP, up to 31,62,49,885 (31.62 crore) equity shares will be on offer through the offer for sale (OFS), representing 5 per cent of equity stake.