Street Buzz: LIC IPO likely from 10 March, issue size seen at Rs 65,400 crore; Check out more

The initial public offering of Life Insurance Corp of India (LIC) is likely to run from March 10 to 14 and the share sale could be worth about Rs 65,400 crore at a price band of Rs 2,000-2,100 apiece, going by market rumours.

This comes after the government, which filed LIC draft papers on Sunday for the country's biggest IPO, denied rumours on the issue date, saying any decision on valuation will be taken after roadshows with investors and the listing will be done in March.

However, speculation is rife about key aspects of the public issue which is likely to reserve 3.16 crore shares for LIC’s 283 million policyholders. 

The state-run insurance giant, armed with the country's largest network of 1.35 million registered agents, will try to woo policyholders to the IPO with a rumoured 10 percent discount. To be sure, many of the policyholders will be first-time investors in equities.