government backed Life Insurance Corporation of India (LIC) is seeking to appoint a Chief Financial Officer, according to a notification on its website, before an initial public offering before the end of the financial year.

The move to appoint a CFO follows the decision to re-designate LIC’s top job as chief executive officer earlier this year.

LIC is currently undergoing a valuation exercise for an IPO that could be India’s biggest ever as the government sells 5%-10% stake in the company to around ₹900 billion by the end of the financial year running till March. Wants to raise Indian Rs.

Recently, the government appointed ten investment banks which include Goldman Sachs, Citigroup and SBI Capital Markets to handle the offer.

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