The Centre is ready to launch the Life Insurance Corporation of India’s initial public offering early in May this year, sources told CNBC-TV18 on April 5.Sources added that the government is in touch with bankers and financial advisors on the red herring prospectus (RHP). An RHP, also known as an offer document, is filed by a company to SEBI ahead of a public listing.
They also added that the government may offer to sell more than 5 percent of its stake in the LIC IPO.The sources noted that officials are operating in a challenging environment. They added that global uncertainties have now been factored in and market volatility has ebbed.
(This is a breaking story, stay tuned for more updates…)