Life Insurance Corporation of India's initial public offering (IPO) is expected to file its Draft Red Herring Prospectus (DRHP) on February 11, sources told CNBC-TV18.
It has learned that the Insurance Regulatory and Development Authority (IRDAI) had cleared the LIC IPO proposal in a board meeting on February 9.
The quantum of divestment and EV numbers will be mentioned in the DRHP, it said.
Also Read: LIC IPO will create new precedents, new issues of corporate governance
While presenting the Union Budget for 2022-23, Finance Minister Nirmala Sitharaman had told the Parliament that the initial public offering of Life Insurance Corporation of India is expected shortly.
Also Read: LIC IPO | A lookback at 30 years of disinvestment in India
Recently Bloomberg reported that the government is looking for a valuation of $203 billion for the life insurance giant, which will make it the second-largest listed company by market capitalisation.
The government is said to be mulling a two-part IPO of LIC due to apprehensions over the equity market's ability to absorb such a large primary issue at one go.
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