Govt expects to launch LIC IPO in 2-3 weeks, feels mkt conditions improving

Feels market conditions improving, but still keeping a watch; updated DRHP filed with Sebi

The government is expecting the launch of the initial public offering (IPO) of Life Insurance Corporation of India (LIC) in two to three weeks as certain developments such the US Federal Reserve's interest rate hike seeing a minimal impact on the markets have made the situation better for India's largest listing, sources in the know said.

LIC and the Centre also filed an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), responding to the regulator’s queries on disclosure of risks and whether the valuation of the insurer at the time of filing the DRHP