LIC IPO expected to open mid-March; DRHP likely this month

The government is aiming to raise up to $12.18 billion from its stake sale.

The listing of LIC is set to be India's biggest ever IPO. (File/Reuters)
The listing of LIC is set to be India's biggest ever IPO. (File/Reuters)

Life Insurance Corporation, India’s largest insurer, is likely to file a draft prospectus as early as end of this month and begin issuing public shares by mid-March, one government and two banking sources with direct knowledge of the matter in New Delhi and Mumbai told Reuters.

The listing of LIC is set to be India’s biggest ever IPO, with the government aiming to raise up to 900 billion rupees ($12.18 billion) from its stake sale.

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