There's a good article in TOI Plus regarding the LIC IPO if anyone's interested.
For almost two years, India has steeled itself for a gargantuan task: readying the country’s 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. LIC’s debut will test the depth of the nation’s capital markets and global appetite for its state-owned crown jewel.
Bankers say global investors worry about the autonomy of an institution regularly pressed into service to rescue teetering banks and floundering state assets. Local investors are sceptical that the 65-year-old firm can compete against up-and-comers
A knockout listing could see LIC raise as much as $10 billion from the IPO with a minimum dilution of 5%
Sitharaman has set a March deadline for the listing. If investors agree with the $203 billion valuation sought by the government, LIC would compete against India’s biggest companies
In March 2020, LIC’s property holdings were internally valued at about $5.8 billion, according to a person with knowledge of the matter, though it’s unclear whether all of this was adjusted to current market rates
The DHRP is expected by Jan end, and definitely before the budget season. So keep an eye out for it.