Several global and domestic institutions have expressed interest in buying about 61 per cent of LIC's stake ...

At present, Centre and Life Insurance Corporation hold 94.72 per cent in the bank...

The government had invited bids from potential buyers in October...

Analysts say it will pave way for Alternative Investment Funds to bid for a controlling stake in the bank...

Bidder should have a net worth of at least Rs 5,000 crore, and bids can be submitted as a consortium...

At present, Life Insurance Corporation holds a 49.24 per cent stake in the bank, while govt has a 45.48 per cent stake...

Bidders to be allocated shares on May 12...

The move is likely to prevent a repeat of ONGC buying out HPCL or Oil India and Engineers India buying out Numaligarh Refinery...

There are still some issues that need to be addressed concerning the valuation of LIC, a senior official of one of the merchant bankers said...

The idea is to put idle land parcels of state-owned entities to use and realise their value...