Life Insurance Corporation of India (LIC)

Life Insurance Corporation of India (LIC) is India's largest life insurer and its only wholly government-owned insurance company, established under the LIC Act of 1956. The corporation has historically commanded a dominant share of the domestic life insurance market, both by total premium collected and by new business premium written each year. LIC operates through an extensive nationwide network built up over more than six decades, including numerous zonal and divisional offices, thousands of branch offices, and one of the largest individual agency forces of any insurer in the world. The corporation offers a wide range of life insurance, pension and savings-linked products distributed primarily through its agency channel, alongside bancassurance and digital channels. Ahead of its public listing, the Government of India, acting through the President of India, sold a portion of its stake through an offer for sale, marking the first time LIC shares were made available to public investors while the government retained a large majority ownership position. The listing was one of the largest public share sales in Indian capital markets history.

Ahead of the offer, the company allocated roughly 5.93 crore shares to anchor investors, raising about Rs 5,627 crore through the anchor book at the issue price of Rs 949 per share.