According to people familiar with the matter, Life Insurance Corporation of India may file a prospectus for the country’s biggest initial public offering in the last week of January.
The state-run insurer plans to file a draft IPO prospectus in the week beginning January 31, which will provide the embedded value. LIC As well as the number of shares on offer, the people said, asking not to be identified because the deliberations are private. He said the ongoing virus wave could disrupt the schedule.
A finance ministry official was not immediately available for comment. A representative of LIC did not immediately respond to an email seeking comment.
The planned deadline by March-end will get Prime Minister Narendra Modi’s government on track to list LIC, providing a much-needed boost to revenue. Bloomberg News reported in September that his administration had sought to sell a 5%-10% stake in the insurer for up to Rs 10 trillion.
People said that the government is still waiting for the complete evaluation report and based on that the estimated assessment may change. He added that the value of LIC can be as much as five times the so-called embedded value – more than 3-4 times for most insurers.
This story has been published without modification in text from a wire agency feed.
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