LIC IPO: LIC Likely To File DRHP With SEBI Today

New Delhi: Government-owned insurance behemoth Life Insurance Corporation of India's (LIC's) is likely file the Draft Red Herring Prospectus (DRHP) today.

According to media reports, the issue, after approval of SEBI, is likely to hit market in March and up to 10 percent of the issue size would be reserved for policyholders.

According to a BT report, DIPAM Secretary Tuhin Kanta Pandey had said that the embedded value of LIC will be upwards of Rs 5 lakh crore.

Notably, the Insurance Regulatory and Development Authority (IRDAI) has approved the IPO of the LIC, paving the way for the public sector titan's listing. Also, a formal communication on this is likely soon.

The much-awaited IPO of the life insurance behemoth is expected to be one of the biggest in the country, with the government aiming to raise close to $12 billion by selling a minority stake to the public.

Reportedly, the government is planning to keep a portion of LIC IPO for policyholders, who could also get discounts to rope in a larger section of retail investors.

LIC's largest holding in percentage terms is Reliance Industries (RIL) with a 5.98% stake at the end of October 2021. The second-largest holding is Infosys with 5.55% stake.

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