LIC IPO Filed With Market Regulator, Hopes To Sell 5% Equity Stake

According to sources, the public offer is expected to hit the capital market in March

The government on Sunday filed the draft papers with markets regulator Securities and Exchange Board of India (SEBI) for Life Insurance Corporation's (LIC) initial public offer (IPO), through which it hopes to sell 5 per cent equity stake. LIC IPO DRHP is available on the SEBI's website https://t.co/RZtSUnvmy7pic.twitter.com/P9yyFsNWZC

According to sources, the public offer is expected to hit the capital market in March.

The government will sell over 31 crore equity shares of LIC, according to the draft red herring prospectus (DRHP) filed with the markets regulator.

"The DRHP of LIC IPO has been filed today with the SEBI," department of investment and public asset management (DIPAM) secretary Tuhin Kanta Pandey tweeted.