NEW DELHI: Life Insurance Corporation, India's largest insurance company and a public sector undertaking, is all set to enter the stock market. It is learned that the initial share sale( Initial Public Offering IPO) will take place from May 4 to 9. The Centre has not made an official announcement yet. It will be India's largest IPO.

The government's total share sale target for the current year was Rs 6,5000 crore. The revised mobilization target is Rs 21,257 crore. The current record is Rs 18,300 crore raised by PayTM in 2021.

The stock is priced at Rs 902-949 per share with the government likely to give a ₹ 60 discount to policyholders and a ₹ 45 discount for retail investors and employees. The reason for this sale is to list LIC, one of the largest investment houses, in the stock market. Last year LIC raised Rs 13,531 crore by total sale of shares.