Life Insurance Corporation, LIC, today launched its much-awaited initial public offering, IPO, for anchor investors. It will be open to general public from Wednesday to 9th of this month.

LIC, the country's largest life insurer, is selling over 22.13 crore shares between 902 and 949 rupees per share. Investors can bid for a minimum of 15 Equity Shares and in multiples of 15 Equity Shares thereafter.

LIC policyholders will get a 60 rupees per share discount and retail employees and anchor investors will get a 45 rupes discount. The IPO will be listed on stock exchanges on 17th of this month.

This IPO will be the biggest in the country to date. The government is looking to divest a 3.5 percent stake of LIC and total IPO value is set at 21,000 crore rupees.