India's biggest share sale pays its four bankers just ₹4 lakh total
India's biggest-ever secondary share sale, LIC's ₹31,500 crore OFS, pays its four manager banks just ₹4 lakh to split: around 0.0001% of deal value. That's the zero-fee mandate back with force, as desks accept nominal compensation for prestige, league-table rank and future flow. Rivals counter that ₹100,000 a bank barely covers due-diligence and compliance. The bet is reputation now, pay later.