Budget 2022 | The much-awaited IPO of the life insurance behemoth is expected to be one of the biggest in the country, with the government aiming to raise close to $12 billion by selling a minority stake to the public.
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The initial public offering of Life Insurance Corporation of India is expected shortly, Finance Minister Nirmala Sitharaman told the Parliament while presenting the Union Budget for 2022-23.
The much-awaited IPO of the life insurance behemoth is expected to be one of the biggest in the country, with the government aiming to raise close to $12 billion by selling a minority stake to the public.
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Recently Bloomberg reported that the government is looking for a valuation of $203 billion for the life insurance giant, which will make it the second-largest listed company by market capitalisation.
The government is said to be mulling a two-part IPO of LIC due to apprehensions over the equity market’s ability to absorb such a large primary issue at one go.
