Planning to invest in LIC IPO? Here is everything you need to know

Planning to invest in LIC IPO? Here is everything you need to know

The 65-year old insurance giant has dominated the global markets by being the fifth largest life insurance and ranked 10th in terms of total assets.Dubai: India’s IPO season is in full swing with multiple IPOs geared up to make their stock market debut. One of the most awaited IPOs that has been creating buzz for a while in India is - the LIC IPO. The Life Insurance Corporation of India, popularly known as LIC is set to go for one of the biggest initial public offerings (IPO) to date, as the Government of India will sell 5 per cent of its stake in the country’s largest insurance company. The LIC IPO is a part of a wider privatisation drive to bolster public coffers drained by the coronavirus pandemic and fund new infrastructure. LIC controls two-thirds of the Indian market with almost 300 million policies. Given the sovereign backing and the mamoth size of this listing, the impact of this IPO is comparable to that of Saudi Arabia's Aramco or China's Industrial and Commercial Bank of China. “LIC is one of India's biggest institutional investors, with significant stakes in Indian blue-chip stocks like Reliance, TCS, Infosys and ITC,” said Nikhil Kamath,