Getting IPO-ready: LIC boosts shareholders' corpus to Rs 6,600 crore

The move is to ensure a much larger shareholder base ahead of IPO

Life Insurance Corporation of India (LIC) has increased the size of its shareholders’ fund to Rs 6,600 crore from Rs 100 crore in a bid to accommodate a larger shareholder base ahead of its public listing.

The size of the fund has been enhanced by retaining two years' of dividend and issuing fresh capital, said an official. Increasing the size of the shareholders’ fund will help boost the number of shares for allotment in the insurer’s initial public offering (IPO).

The corpus represents the amount of equity in a company that belongs to its shareholders. In the Union Budget, the Centre had