Life Insurance Corporation (LIC) is planning to file the draft papers for its Initial Public Offering (IPO) with Securities and Exchange Board of India (SEBI) by the third week of January.
Investors are keenly waiting for the issue and is expected that the IPO size of LIC will be of 1 lakh crore.
LIC officials stated investors that the company will be focusing on non-participating products such as pension, annuity, health insurance and ULIPS.
The IPO is expected to be held in February 2022.The Government of India will remain the majority shareholder after the public listing.
In year 2021, government of India had proposed to significantly enhance the authorised capital of LIC.
According to reports, 67 percent of India’s population is between 15 and 64 years of age.
(With inputs from agencies)
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