In preparation for the Life Insurance Corporation of India’s (LIC) initial public offering (IPO), the Securities and Exchange Board of India (SEBI) is expanding its present workforce of 850.
The regulatory body for securities and commodity market in India, plans to hire 120 senior executives over the next four months. It is on the lookout for experts in information technology (IT), research, general administration and official language as well as the legal space. It has issued a recruitment notice to this effect. Online applications are being invited by SEBI this month, while the examinations to test the candidates will be held February 2022 onwards.
Interested candidates can apply immediately for 80 general posts, 16 posts in legal, 14 in IT, seven in research and three in office language. Applications will be accepted online (via the official site of SEBI) till 24 January, 2022.
It is reported that SEBI has already processed an overwhelming number of applications for IPOs in 2021, which has led to this hiring spree. Hundreds of companies listed their shares, raising billions of dollars. The initial sale of shares by LIC is being touted as the biggest public issue in India.
In fact, the global ranking for stock exchanges in India was seventh in terms of IPOs and eighth in terms of IPO proceeds.
Anticipating a lot of activity, and hence, workload, SEBI intends to complete the hiring process before LIC and various startups in the tech space begin raising funds in the primary market.