LIC, which was founded in 1956, follows rules set by a unique parliamentary act rather than the law that governs the nationРІР‚в„ўs other insurance firms.

Milliman and Ernst & Young executives overseeing the valuation must sift through piles of policies to account for parameters as wide-ranging as mortalities, morbidities, lapses and surrenders.Р”В¬omparisons with peers are tricky. The insurer releases its balance sheet only once a year, meaning there are no publicly available numbers to discern its embedded value, which combines the current value of future profits with the net value of assets. The sheer size of LIC lays bare the challenges of listing what is effectively a black box.

With 2,000 branches, more than 100,000 employees and 286 million policies, the Mumbai-headquartered company reaches practically every corner of the country. РІР‚СљIf the listing happens, it could change the global image of India,РІР‚Сњ said James Beeland Rogers, whoРІР‚в„ўs been investing in emerging markets for a few decades and is the chairman of Beeland Interests Inc. More importantly, it would burnish Prime Minister Narendra ModiРІР‚в„ўs reputation as a market-oriented reformer ahead of key state elections and help plug a gaping budget deficit. That would make it the third biggest globally involving an insurer. Local investors are skeptical the 65-year-old firm can compete against up-and-comers.Р”Р„ knock-out listing could see LIC raise as much as $10 billion from the IPO with a minimum dilution of 5%. Bankers say global investors worry about the autonomy of an institution regularly pressed into service to rescue teetering banks and floundering state assets. With about two months to the targeted launch, consultants have been pouring over reams of policy documents to come up with LICРІР‚в„ўs embedded worth - a key valuation metric. As with the Gulf oil giantРІР‚в„ўs $29.4 billion listing, the worldРІР‚в„ўs largest, LICРІР‚в„ўs debut will test the depth of the nationРІР‚в„ўs capital markets and global appetite for its state-owned crown jewel. of India, or LIC, as IndiaРІР‚в„ўs Aramco moment. Some bankers have described the public offering ofР’В Life Insurance Corp. And across the hinterland, front-page newspaper ads alert more than 250 million policy holders of the chance to own a piece of a company nearly as old as post-independence India.Р”Р‡or almost two years, India has steeled itself for a gargantuan task: readying the countryРІР‚в„ўs premier insurer - with nearly $500 billion in assets and a valuation estimated as high as $203 billion - for what could become its biggest-ever stock listing. Bureaucrats burn the midnight oil in New Delhi, working through power cuts to pull together an initial public offering to rival any in Asia this year.

In MumbaiРІР‚в„ўs sleek skyscrapers, harried bankers race the clock to appraise a company that hasnРІР‚в„ўt been valued in decades. IndiaРІР‚в„ўs Aramco moment campaign decoded: Listing before March 2022 likely.Р”Р‡or almost two years, India has steeled itself for a gargantuan task: readying the countryРІР‚в„ўs premier insurer - with nearly $500 billion in assets and a valuation estimated as high as $203 billion - for what could become its biggest-ever stock listing. Goodwill InvestorsРІР‚в„ў Education initiative! GoodwillРІР‚в„ўs Eagle Eyes! LIC IPO: All you wanted to know about it.

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