LIC IPO gets Sebi approval; may see delayed launch over Ukraine crisis

LIC's IPO is one of the fastest to get Sebi approval; the insurer had filed its DRHP on February 12.

The Securities and Exchange Board of India (Sebi) has cleared the draft red herring prospectus (DRHP) of the state-owned Life Insurance Corporation of India (LIC). Investment banking sources said the so-called final observations were issued by the market regulator on Tuesday evening.
 

Following the market regulator’s nod to the IPO papers, the insurer can launch its share sale. However, LIC may not launch its IPO immediately given the current volatile market conditions.
 

Investment bankers said they would want to wait until an improvement in market sentiment.
 

The benchmark indices have come off over 8 per cent this year amid a