The Centre has filed updated draft papers with the market regulator SEBI for the initial public offering of Life Insurance Corporation of India. According to sources, the updated draft red herring prospectus includes the third quarter financial results of LIC.
“The updated DRHP was filed as per SEBI observations,” sources said.
The IPO-bound insurer reported a net profit of ₹235 crore in the third quarter of the fiscal as against ₹90 lakh a year ago. It had earlier only provided financial results until September 2021.
The government had filed the DRHP for LIC in February and was hoping to go through with the mega IPO this fiscal. However, due to higher volatility in markets, the IPO dates are yet to be finalised.