It's here! The largest IPO in Indian history, known as the "Indian version of Ami"!

According to foreign media reports, in recent days, India is preparing for the listing of the country's largest insurance company, the Life Insurance Company of India (LIC), in a further effort to privatize the country, aiming to boost the recession due to the epidemic. Indian economy, and to finance new infrastructure.

At present, the company has submitted a draft prospectus for the sale of 5% of the shares to the Indian market regulator, and the company is expected to raise nearly $8 billion through the listing, a scale that will make the "India version of the IPO record that just broke the country last year". Alipay" Paytm pales in comparison.

India Life's initial public offering (IPO) was initially scheduled for the fiscal year beginning in April 2020, but was delayed as preparations were interrupted by India's strict stay-at-home rules amid the pandemic.

Some analysts said that the initial public offering of Indian life insurance companies may be the largest IPO in India's history and may bring more than $10 billion in revenue to the Indian government.

When listed in March, the company is expected to become one of the largest listed companies in India, alongside Reliance Industries (Reliance) and Tata Group (TCS).

How big is Indian life insurance company? The Life Insurance Company of India was established in 1956 as a state-owned enterprise. Before India allowed private capital to enter the industry in 2000, Life Insurance Company of India was the only life insurer in India.

At present, the company accounts for about two-thirds of India's domestic life insurance market, with assets of 36.7 trillion rupees (about 491 billion US dollars), equivalent to 16% of India's GDP.

The company has more than 100,000 employees and more than 1 million insurance brokers. Many of its large office buildings are located in prime locations in various cities in India, including: a 15-story building in the southern Indian city of Chennai, and a headquarters building in the center of Mumbai's financial district.

Backed by India, the world's second most populous country, LIC currently has more than 280 million active policies. Brand Finance, a well-known British brand management and brand evaluation independent consultant, pointed out in a report that the insurance company's brand value alone is as high as 8.66 billion US dollars.

Considering the importance of India Life in the Indian insurance industry, some bankers even compared India Life to India's version of "Saudi Aramco" and described the IPO as "India's Aramco moment" - the latter being the Saudi Arabian economy A symbol of strength, it generates nearly 90% of the Saudi government's revenue.