LIC IPO: Govt expects to open IPO issue by mid-March: Report

LIC IPO: The listing of LIC is set to be India's biggest ever IPO, with the government aiming to raise up to Rs 90,000 cr

Life Insurance Corporation (LIC), India's largest insurer, could publish key details of its mammoth initial public offering (IPO) this month and begin issuing public shares by mid-March, government and banking officials told Reuters on Thursday.

LIC's listing is set to be India's biggest ever IPO, with the government aiming to raise up to 900 billion rupees ($12.2 billion) from selling a stake.

Officials are working on the valuation of the company which manages more than $450 billion of assets, and once that is done they will issue a draft IPO prospectus for investors, a government and two banking sources with direct knowledge