<p>A public offering of shares by India's state-run Life Insurance Corp (LIC), set to be the country's biggest ever at $8 billion (Rs 60,000 crore), is expected to open for anchor investors on March 11, three sources with direct knowledge of the matter told <em>Reuters</em>.</p>.<p>The book will open for bidding by other investors a couple of days later, the sources said.</p>.<p>LIC's initial public offering (IPO) is expected to obtain regulatory approval by the first week of March, after which an indicative marketing price band will be set, said the sources, declining to be named as the deal discussions are private.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/lic-seeks-rs-65400-crore-from-ipo-as-roadshows-start-1082255.html" target="_blank">LIC seeks Rs 65,400 crore from IPO as roadshows start</a></strong></p>.<p>LIC declined to comment. A finance ministry spokesperson did not immediately respond to a <em>Reuters </em>request seeking comment.</p>.<p>The sources said that the IPO launch schedule could change, though for now the issuer was working to meet those timelines.</p>.<p>LIC, the country's largest insurance company, filed a draft IPO prospectus on Sunday with the market regulator to sell 5 per cent of the government's stake to potentially raise nearly $8 billion.</p>.<p>Sources had told <em>Reuters </em>last month that LIC could begin issuing public shares by mid-March. They did not elaborate.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/ipo-mania-gets-reality-check-in-india-after-a-series-of-flops-1082143.html" target="_blank">IPO mania gets reality check in India after a series of flops</a></strong></p>.<p>The government is rushing to complete the IPO by the end of March to meet its 2021/22 fiscal deficit target of 6.4 per cent of gross domestic product (GDP), which is contingent on it raising around Rs 60,000 crore ($8.03 billion) from the issue.</p>.<p>New Delhi sharply trimmed its divestment and privatisation plans for the fiscal year that ends on March 31 to Rs 78,000 crore from Rs 1.75 lakh crore.</p>.<p>So far it has raised just Rs 12,000 crore from divesting stakes in state-run companies as it failed to privatise, including run refiner Bharat Petroleum Corp Ltd and two banks.</p>.<p><strong>Check out DH's latest videos</strong></p>
<p>A public offering of shares by India's state-run Life Insurance Corp (LIC), set to be the country's biggest ever at $8 billion (Rs 60,000 crore), is expected to open for anchor investors on March 11, three sources with direct knowledge of the matter told <em>Reuters</em>.</p>.<p>The book will open for bidding by other investors a couple of days later, the sources said.</p>.<p>LIC's initial public offering (IPO) is expected to obtain regulatory approval by the first week of March, after which an indicative marketing price band will be set, said the sources, declining to be named as the deal discussions are private.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/lic-seeks-rs-65400-crore-from-ipo-as-roadshows-start-1082255.html" target="_blank">LIC seeks Rs 65,400 crore from IPO as roadshows start</a></strong></p>.<p>LIC declined to comment. A finance ministry spokesperson did not immediately respond to a <em>Reuters </em>request seeking comment.</p>.<p>The sources said that the IPO launch schedule could change, though for now the issuer was working to meet those timelines.</p>.<p>LIC, the country's largest insurance company, filed a draft IPO prospectus on Sunday with the market regulator to sell 5 per cent of the government's stake to potentially raise nearly $8 billion.</p>.<p>Sources had told <em>Reuters </em>last month that LIC could begin issuing public shares by mid-March. They did not elaborate.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/ipo-mania-gets-reality-check-in-india-after-a-series-of-flops-1082143.html" target="_blank">IPO mania gets reality check in India after a series of flops</a></strong></p>.<p>The government is rushing to complete the IPO by the end of March to meet its 2021/22 fiscal deficit target of 6.4 per cent of gross domestic product (GDP), which is contingent on it raising around Rs 60,000 crore ($8.03 billion) from the issue.</p>.<p>New Delhi sharply trimmed its divestment and privatisation plans for the fiscal year that ends on March 31 to Rs 78,000 crore from Rs 1.75 lakh crore.</p>.<p>So far it has raised just Rs 12,000 crore from divesting stakes in state-run companies as it failed to privatise, including run refiner Bharat Petroleum Corp Ltd and two banks.</p>.<p><strong>Check out DH's latest videos</strong></p>