State-run Life Insurance Corp Of India (LIC), which is planning the country’s largest IPO next month, may not sell its entire stake in IDBI Bank IDBI.NS and can use its large network of branches to market its insurance services, its chairman said.
LIC, the country’s biggest insurance company, is planning to float a 5% stake to raise about $8 billion next month, which could make it India’s largest initial public offering (IPO) by far.
