Ahead of the launch of the IPO, Life Insurance Corporation of India (LIC) has released a new mobile app ‘Pragati’ (Performance Review Application, Growth and Trend Indicator) for the use of its Development Officers.
The company said in a statement that the Pragati app will provide various information like monitoring team besides updating real-time information about the performance of its workforce in critical areas of business performance such as premium collection and agency activation. LIC is taking several customer centric and digital initiatives for ease of operation for its customers and field employees.
Let us tell you that the government is going to bring LIC’s IPO. For this, the Modi government has appointed 10 merchant bankers, including Goldman Sachs (India) Securities, Citigroup Global Markets India and Nomura Financial Advisory & Securities India, to manage the initial public offering (IPO) of the country’s largest insurance company LIC.
SBI Capital Markets, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities and Kotak Mahindra are among the other bankers that have been selected to manage the mega IPO, according to a circular posted on the website of the Department of Disinvestment. Capital Company Ltd. Are included.
Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), tweeted that the government has selected book running lead managers and other advisors for LIC’s IPO. The disinvestment department had invited applications for the appointment of merchant bankers on July 15. Subsequently, 16 merchant bankers made presentations for the management of LIC’s IPO.
