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India’s Life Insurance Corp Valued At $150bn Ahead Of IPO: Mint

The insurance behemoth is planning an initial share sale by March and in talks with multiple foreign investors to join as anchor investors


LIC
At a valuation of $150 billion, LIC's share sale would be India’s biggest-ever IPO. Photo: Anushree Fadnavis, Reuters.

 

An internal valuation exercise has arrived at an embedded value of $150 billion for India’s insurance behemoth Life Insurance Corporation (LIC), Mint reported, citing unidentified sources.

The insurer, which is planning an initial share sale by March, is in talks with multiple foreign investors, including pension funds, to join as anchor investors. Anchor investors are financial institutions that are allotted shares in a company ahead of an IPO on a discretionary basis.

At a valuation of $150 billion, the share sale would be India’s biggest-ever IPO. In comparison, Reliance Industries Ltd, India’s most valuable company, is valued at around $220 billion, the report added.

Read the full report: Mint.

 


 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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