Mumbai: In what may lead to India's own Aramco moment, Finance Minister Nirmala Sitharaman on Saturday proposed to launch an initial public offering of insurance major, Life Insurance Corporation of India.
With an over 70 per cent market share in India's insurance market, LIC is the largest player in the segment and experts believe its listing is likely to yield a huge premium due to its low equity base.
LIC is also one of the biggest investors in the stock markets with assets of nearly Rs.30,000 lakh crores, and annual investment in the range of over 50-60,000 crores in shares, bonds, IPOs, etc.
So, experts say, it could easily become one of the top listed companies in the country.
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