Life Insurance Corporation (LIC), India’s largest insurer, will launch its jumbo initial public offering (IPO) in early March, a top government official told CNBC-TV18 on January 27.
“We are very sanguine about bringing the LIC IPO in early March,” said Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey.
The listing of LIC is poised to be India’s IPO biggest to date, with the government looking to raise up to Rs 1 lakh crore by selling shares. That would beat the roughly five times Rs 18,300 crore that payments company Paytm raised in November.
(This is a developing story. Please check back for updates).