10 Merchant Banks to Manage IPO of LIC

Current Context: The GOI has selected 10 merchant bankers to manage the Initial Public Offering of Life Insurance Corporation of India (LIC).

• LIC’s IPO will be launched in the January-March quarter of 2022.
• So the merchant bankers will perform the roles of Issue management, Promotional activities, Credit syndication, Project counseling, and Portfolio management, etc.
• The 10 merchant bankers are: Goldman Sachs (India) Securities, Citigroup Sachs (India) Securities, Nomura Financial Advisory and Securities India, SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Ltd.
• In the last month, Cabinet Committee on Economic Affairs had cleared the way for the IPO of LIC.
• Static Part: 
• HQ of LIC: Mumbai
• Chairperson of LIC: MR Kumar