The government will sell more than 31 crore shares of the Life Insurance Corporation, and up to 10% of the issue size will be set aside for policyholders.
The Union government on Sunday filed the draft papers for the initial public offering of the Life Insurance Corporation, or LIC, with the Securities and Exchange Board of India. An initial public offering, or IPO, is a process in which private companies offer shares to the public through issuance of new stocks. At the end of the initial public offering process, the company gets listed on the stock exchange and is allowed to raise capital from public investors.
