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.