Mutter-backed Existence Insurance Corp of India (LIC) is calling for to nominate a chief financial officer, per a notification on its web verbalize, sooner than an initial public providing slated sooner than the tip of the fiscal yr.
The transfer to rent a CFO follows a risk to re-designate LIC's high job to chief govt officer from chairman earlier this yr.
LIC is presently present process a valuation declare for an IPO that shall be India's biggest ever because the authorities seeks to come to a decision on spherical 900 billion Indian rupees by selling 5%-10% stake within the firm by the tip of the fiscal yr that runs thru March.
Recently, authorities appointed ten funding banks including Goldman Sachs, Citigroup and SBI Capital Market to take care of the providing.
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