Life Insurance Corporation of India (LIC) has received the approval of the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO), though it is not clear when the insurer will go ahead with it.
The approval for the insurance behemoth came 22 days after it had filed the draft papers, among the fastest clearances given by the market regulator. Typically, it takes around one-three months for the regulator to clear a company’s preliminary documents.
