LIC IPO: Government files updated documents with SEBI

The government has filed updated documents with the Securities and Exchange Board of India (SEBI) for the initial public offering (IPO) of Life Insurance Corporation of India (LIC), which includes information related to the December quarter.

SEBI had approved the Draft Documents (DRHP) filed by LIC on February 13, 2022. These included information about the financial results till September.

“The updated LIC documents (DRHP) along with the December results have been filed,” an official said.

According to the latest information, LIC made a net profit of Rs 235 crore in the October-December quarter. Net profit rose to Rs 1,671.57 crore between April and December 2021.

The government expects to raise around Rs 60,000 crore through IPO through sale of around 316 crore shares or five per cent stake in LIC.