What does the country’s largest IPO of LIC mean for investors and govt?

After two years of preparation, the govt on Sunday approached SEBI to sell 5% stake in Life Insurance Corporation through Initial Public Offering. It expects to collect Rs 60,000 cr through this move

LIC IPO: Dubbed as the country’s Aramco moment, the Initial Public Offering of Life Insurance Corporation of India has moved a step The issue is set to dwarf the record $2.4 billion IPO of Paytm last year. Created by the merger and nationalisation of 245 Indian and foreign insurers and provident societies in 1956, LIC has been a household name in India for decades now.

Here are key things you should know about the impending IPO Text on screen — How big is LIC

LIC is India’s biggest life insurer with 286 million policies, 115,000 employees, 1.34 million individual agents and more than…read more