Mr D.I.Y Group. Bursa Malaysia. Size up to US$500mil.
HONG KONG: India is gearing up for what could potentially be a slew of mega initial public offerings.
Prime Minister Narendra Modi’s government surprised investors last Saturday by saying it will sell part of its stake in state-run behemoth Life Insurance Corp (LIF) of India to meet its record asset-sale target.
The jumbo sale could fetch the government between 850 billion rupees (US$11.9bil) and 900 billion rupees if it gets done this year, Credit Suisse Group AG analysts led by Neelkanth Mishra wrote in a note.
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