ET NOW had earlier reported that LIC will file a draft red herring prospectus with Sebi on Thursday.
The IPO size is expected to be in the range of Rs 70,000 crore to Rs 1 lakh crore, Angel One said in a note. With this, LIC would command a market capitalisation of Rs 13-15 lakh crore post listing.
LIC is likely to offer a discount of 5 per cent to its policyholders in the upcoming public offering, ET Now reported, citing sources. Also, retail bidders and employees are likely to be given some concession on the price band, sources said.
Last week Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey had indicated that the state-run insurance player is likely to file its DRHP this week.
At present, the government holds 100 per cent stake in LIC, which had assets worth Rs 44 lakh crore in FY21. The life insurer has 29 crore life policyholders, with Rs 34.3 lakh crore worth of life funds.
LIC has 2,048 Branch offices, eight zonal offices, 113 divisional offices and 11.48 lakh agents.
The Cabinet had in July last year approved the initial public offering of LIC and the stake sale is being planned in the ongoing quarter.
