IPOs

Kotak Mahindra Capital Co., JM Financial Ltd., Citigroup Inc. and Nomura Holdings Inc. are also on the shortlist, based on their technical and financial bids, after 16 investment banks presented their pitches to the government on Thursday, the people said, asking not to be identified because the information isn’t public.

Allowing FDI in LIC would permit so-called strategic investors such as massive pension funds or insurance firms to participate in the initial public offering, which is slated to be India’s largest ever.

The owner of the SoftBank Group Corp.-backed startup has submitted initial documents with the market regulator for what would be the third-largest Indian debut of 2021.

The inevitable cancellation of the takeover transaction by China Oceanwide means Genworth will be spinning out a portion of its U.S. mortgage insurance business.

The health insurance startup co-founded by Josh Kushner in a filing Friday listed the size of the offering as $100 million.

The transaction with Reinvent Technology Partners is set to value the combined entity at more than $5 billion.

OneConnect provides cloud computing and other technology services to small- and medium-sized financial institutions.