IPO-bound LIC set to alter pecking order of top companies at bourses

LIC will become either the largest or third-largest listed stock in the domestic markets and will get a quick entry into MSCI and FTSE indices

Life Insurance Corp of India (LIC), which is aiming to launch its initial public offering (IPO) next month, is set to alter the pecking order of top listed companies in the country. Depending upon where the government prices the IPO, the stock could end up becoming India’s most valuable company on the first day and even get fast-tracked into global benchmark indices given its sheer size.

According to market sources, LIC’s IPO is targeting to mop up Rs 63,000 crore and Rs 75,000 crore. This means the insurance behemoth will be valued between Rs 12.6 trillion ($161 billion) and Rs