LIC IPO draft papers likely to receive Sebi's approval on Monday

Listing may spill over into FY23 as geopolitical tensions roil markets

Even as the Centre is staring at the prospect of the public listing of Life Insurance Corporation of India (LIC) spilling over into the next financial year, the government will go ahead and file the offer documents soon after it receives the market regulator’s approval for the draft red herring prospectus (DRHP), said a senior government official.

The government is expecting the Securities and Exchange Board of India’s nod for the insurer’s DRHP on Monday, the official said.

The regulator’s queries would be responded to at the earliest, and the government, after reviewing market volatility, would indicate the initial public offering’s (IPO’s)