Government urges SEBI to fast track LIC IPO

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It has urged to complete LIC’s vetting process in less than three weeks instead of the usual 75 days

The Indian government has asked regulators for a swift review of Life Insurance Corporation’s draft prospectus, two government sources with knowledge of the matter said — as it pulls out all stops to have the country’s biggest IPO completed by the end of March.

The Securities and Exchange Board of India (SEBI) has been urged to complete its vetting process in less than three weeks instead of the 75 days it usually requires, they said.

“We have 10 bankers for the deal. They are available 24/7 for any questions SEBI might have,” said one of the officials, adding that a ‘clean’ draft prospectus would be submitted.

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