SEBI increases employment ahead of LIC IPO

The Capital Markets Authority has launched an attempt to recruit 120 senior executives as it increases the number of employees ahead of the initial share sale from Life Insurance Corporation of India, in what will be the country’s biggest public issue.

The Securities and Exchange Board of India will recruit experienced officials across legal, information technology, research, general and official language departments over the next four months, the regulator said in a recruitment announcement on its website on Wednesday. Its total number of employees is now around 850.

The appointments follow after SEBI, which last year processed a record number of applications for IPOs. Over 110 businesses from online merchants to start-ups that supply food listed their shares in Mumbai and raised nearly $ 18 billion, according to data collected by Bloomberg. In 2021, India’s stock exchanges ranked seventh in terms of number of listings and eighth in listing income globally, SEBI Chairman Ajay Tyagi said recently.

The regulator now plans to fill positions before other tech start-ups and the insurance giant raise funds in the primary market. Among upcoming deals, the State Bank of India, the country’s largest lender, is expected to raise $ 1 billion by selling a stake in its mutual fund through a stock exchange listing. More Retail Pvt., A grocery chain backed by Amazon.com Inc., is also looking at an offer of as much as $ 500 million, while e-commerce firm Flipkart Online Services Pvt. and digital education startup Byju’s Pte. is also preparing for the first sale of shares.

The market regulator has invited online applications for the positions this month and will hold exams from next month.

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