Life Insurance Corporation (LIC) entering the stock market is news of celebration for the investors. LIC IPO is very crucial for the government as it will benefit from the revenue generated by selling the assets.
Two-thirds of the Indian market is believed to be controlled by LIC with more than 1.2 million agents, 100,000 employees, 2,000 branches, and 1,500 satellite offices. It has almost 300 million policies. The government’s plan is to raise Rs. 1.75 lakh crore through LIC IPO.
The experts believes that listing of Life Insurance Corporation in the second half of this fiscal is being compared with some of the world’s largest IPO such as Saudi Arabia’s Aramco or China’s industrial and Commercial Bank of China (ICBC). Backed by the sovereign, LIC will rule the market as a leader for at least a decade or more. The LIC will become the largest listed company in India, valued at Rs. 16 lakh crore. It would propel India’s insurance sector on a global map.
