India may consider Foreign Direct Investment in Life Insurance Corporation
However, no final decision has been taken yet
In general, as much as 74% of FDI is allowed in most Indian insurers
But, LIC is different as it is a special entity created by an act of parliament
If FDI happens, it would let strategic investors participate in LIC’s mega IPO
The listing could value LIC at as much as $261 billion
BNP Paribas SA, Citigroup Inc. and Goldman Sachs Group Inc. are some of the foreign banks eyeing the IPO.
Nine Indian firms including HDFC Bank Ltd and Axis Capital are also on the list
