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Up to 90 percent of SLIC is up for grabs with the government keen to get a reputed investor to manage the life and general insurance giant.

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rnThe Potential investors would get management control with a possible option to buy the ten percent stake held by the employees.

rnThe formal sale process is expected to start in mid-September after a shortlist is announced.

rnForeign investors are allowed to own up to 100 percent in local insurance companies.

rnThe sale will go through later this year and will play a key role in the government quote s effort to raise 21 billion in privatization receipts.rnrn