LIC files papers, India's biggest IPO is finally here

LIC has filed its draft share sale prospectus with the capital markets regulator SEBI, paving the way for India’s largest initial public offering (IPO)

There is also a possibility that LIC will become India’s most valuable listed company, toppling Reliance Industries Ltd, after listing on the stock exchanges.

LIC plans to sell 316.25 million shares, which is about 5 per cent of its total equity base, said the draft red herring prospectus filed with SEBI

The IPO is fully an offer for sale — which means that the proceeds will go fully towards the government and help it reach its disinvestment target.

source : Indianexpress

LIC is the largest life insurer in India with a 64.1 per cent market share in terms of premium, a 66.2 per cent market share in terms of new business premium

LIC is the largest asset manager in India with managed assets worth Rs 39.6 lakh crore as of September 30, 2021.

LIC’s assets under management (AUM) as of March 31, 2021, are more than 3.3 times higher than the total AUM of all private life insurers in India.

The IPO is expected to be concluded before the end of the fiscal year ending March 2022