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LIC IPO: LIC IPO to transform Indian capital market: M R Kumar

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When it comes to financial services in India, the Life Insurance Corp (LIC) holds the record on almost every metric. It is poised to set a new one when it hits the public markets with the IPO. Chairman M R Kumar tells in an interview that the preparations are in full swing, and explains what the blockbuster IPO means for policyholders, investors and the capital markets in general. Edited excerpts:

This has been a record year in terms of IPOs. The LIC issue has been in the pipeline for a while. Can you create a record with the biggest ever Indian issue this year?

A lot of work has been done since the government announced the IPO. For an insurance company, calculation of embedded value (EV) is very important and that is something that was never done and that was the biggest challenge. To get the EV done, we required software that was not available in India and had to be purchased from Singapore. The huge customer base and so many policies were the basic…

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