LIC has filed its draft red herring prospectus (DRHP) for its initial public offering (IPO) on February 13
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India’s largest insurer and the fifth largest insurer globally, the Life Insurance Corporation of India (LIC) filed its draft red herring prospectus (DRHP) for its initial public offering (IPO) on February 13. The government of India, which is the sole owner of the insurance company, holds 632 crore shares in LIC and plans to offload five percent stake or 31.6 crore shares.
Forbes India breaks down quick takeaways from the 652-page offer document: