LIC IPO: Govt may increase allotment size to align offer with Sebi's rules

The market regulator has approved LIC's updated draft red herring prospectus (DRHP), paving the way for the Centre to file the red herring prospectus (RHP) for India's biggest IPO.

The Centre may increase the allotment of its shares in the initial public offering (IPO) of Life Insurance Corporation of India (LIC), to align the offer with the Securities and Exchange Board of India’s (Sebi’s) listing guidelines.

The market regulator has approved the insurer’s updated draft red herring prospectus (DRHP), paving the way for the Centre to file the red herring prospectus (RHP) for India’s biggest IPO.

The consultations on the updated DRHP filed by LIC have involved aligning the IPO with the Sebi’s regulation that states listing by companies with a market value over Rs 1 trillion will require them to