LIC looks to file for IPO by 3rd week of January, said
Top LIC officials stated in one of their interactions with
global investors in the run-up to its record-breaking IPO that the life insurer
expects to file its draft prospectus with SEBI by the third week of January.
Officials from the finance ministry have been claiming for months that LIC
would be listed before the end of fiscal 2022. The IPO is projected to be worth
around Rs 1 lakh crore, making it India's largest ever equity offering.
LIC officials also informed those investors about the life
insurance giant's growing focus on non-participating products like as ULIPs,
pension, annuity, and health insurance products, according to sources.
According to them, this is part of LIC's attempts to diversify its product mix,
enhance sales of existing non-participating goods, and launch new
To keep up with India's changing demographic pattern, the
life insurance giant wants to hire more millennial agents as part of its
expansion strategy. According to some estimates, around 67 percent of India's
population is between the ages of 15 and 64, with a median age of nearly nine
LIC officials also reminded investors that they are in the
process of hooking up with more partners in order to grow their market share in
the bancassurance channel. According to reports, the life insurance giant is
also pushing for increased digital usage among its bancassurance partners in
order to boost productivity.
Officials also explained how LIC plans to boost individual
customer up-selling and cross-selling, as well as the average ticket size of
the product and the productivity of its intermediaries.
Its officials had previously advised prospective investors
in the LIC IPO how the insurance company intends to increase its business by
leveraging its digital strategy.