LIC IPO: Government amends FEMA rules to allow 20% FDI in LIC - LIC in February had filed the Draft Red Herring Prospectus (DRHP) before the markets regulator Sebi for the IPO.
Government of India has proposed to sell 5 per cent of its stake in the public insurer Life Insurance Corporation of India (LIC) via its much-awaited initial public offer (IPO), Minister of State for Finance Dr Bhagwat Karad told the Lok Sabha.