SYDNEY : India's market regulator has approved state-owned Life Insurance Corp's initial public offering worth about $8 billion, according to a source with direct knowledge of the matter.
Reuters reported earlier, citing sources, that bankers advising LIC had pushed the government to defer the launch of the offering that is set to be the country's biggest yet. The approval was in line with the regulatory process, the source said, despite the prospect of the deal being delayed.
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