LIC eyes investments from corporate and bank treasuries in IPO

Insurance behemoth has over 1% holding in 47 Nifty50 firms

Life Insurance Corporation of India (LIC) is pulling out all stops to ensure its Rs 21,000-crore initial public offering (IPO) is a success. The insurance behemoth is hopeful that the country’s large corporate and bank treasuries will submit bids in its IPO, which will hit the market on Wednesday.

LIC is the largest non-promoter shareholder in several Indian companies. In fact, the state-owned insurer holds more than 1 per cent stake in 47 Nifty50 companies. LIC’s cumulative holding in these 47 companies is over Rs 7.4 trillion.

“Most of the companies that we have invested in have done well. Many