LIC IPO: DRHP, issue date and size, valuation--everything you need to know

The valuation of the mega LIC IPO could be around Rs 15 trillion. Here's all you need to know about LIC IPO

The government-owned Life Insurance Corporation of India (LIC), the country’s largest insurance firm, has planned an initial public offering (IPO) that could be launched next month.

The LIC board is expected to meet on Friday, and is likely to submit a draft red herring prospectus (DRHP) to the market regulator, Sebi. The Insurance Regulatory and Development Authority (IRDAI) approved LIC's proposal on February 9.

The board is also expected to discuss a likely discount and the portion to be reserved for policyholders.

LIC has a majority share of the life insurance market in India. The government hopes to