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The Hindu
The Hindu
Comment
Prashanth Perumal

MYSTERIOUS: Lic s road to the ipo - What They Never Told You

LIC
EXPLAINER

The story so far: The Life Insurance Corporation of India (LIC) filed its draft red herring prospectus on Sunday to kick-start the initial public offering (IPO) process. The Government, which owns 100% of LIC, will be offloading 5% of its stake through the IPO. All the proceeds from the IPO, which is in the form of an offer for sale and is expected to total up to at least ₹60,000 crore, will go towards meeting the Government’s disinvestment target for FY22.

What does the LIC do?

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