LIC Seeks To Appoint CFO Before Its Mega IPO Planned In 2021-22

LIC is seeking to appoint a CFO, according to a notification on its website, ahead of an IPO slated before the end of the fiscal year.

New Delhi: State-backed Life Insurance Corp of India (LIC) is seeking to appoint a chief financial officer, according to a notification on its website, ahead of an initial public offering slated before the end of the fiscal year.

The move to hire a CFO follows a decision to re-designate LIC's top job to chief executive officer from chairman earlier this year.

LIC is currently under going a valuation exercise for an IPO that could be India's biggest ever as the government seeks to raise around Rs 90,000 crore by selling 5%-10% stake in the company by the end of the fiscal year that runs through March.