Life Insurance Corporation of India in its preparation of a record-setting public offering, has hinted about the file drafting of its IPO to the Security and Exchange Board of India (SEBI). LIC conveyed the same message to its global investors in one of its recent interactions.
For several months the officials from the finance ministry of India have strongly suggested about LIC be listed on the stock market for the public by the end of the current fiscal year.
The public offering size of the IPO is expected to be around one lakh crore, this will make it the biggest equity public offering in India ever. Along with that LIC plans to focus on its non-participating products such as ULIPs, pension, health insurance and annuity to bring diversity in its product and increase sales in its non-participating products.
