India's largest life insurer files potentially record-breaking IPO

Mark Battersby
clock • 1 min read

State-owned Life Insurance Corporation of India (LIC) filed its draft prospectus with the Securities and Exchange Board of India (Sebi) on 13 February, in what is potentially the country's biggest public offering to date. "The DRHP of LIC IPO has been filed today with the SEBI," Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey wrote in a tweet. The largest of India's insurer's is selling 316.25m shares, according to the draft prospectus, which comprised around 5% of the post-offer paid up share capital. LIC's embedded value was estimated at...

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