LIC IPO: A look at the insurer’s history

LIC, the country's biggest life insurer, has over 13 lakh agents who help people sign up for insurance policies.

Thursday May 05, 2022 , 3 min Read

On Wednesday, Life Insurance Corporation (LIC) of India opened its much-anticipated $2.7 billion initial public offering (IPO) for subscription, following strong demand from domestic mutual funds who have been allocated 71.12 percent of the total book.

Conscripted to be India's biggest IPO to date, LIC is reportedly commanding a premium of Rs 60-65 apiece for its shares in the grey market - nearly 7 percent higher than the upper end of the IPO price-band of Rs 902 to Rs 949 apiece.

Amid the buzz of news reports surrounding the IPO, YourStory looks at the journey of the 66-year-old insurer.

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