L i c ip ol sells insurance policies. They collect money or premiums, from clients and promise to offer future monetary benefits in exchange. The company manages assets to the tune of 39 lak crow rupees. In effect, they are managing more money than the entire mutual fund industry combined. About ten % of all household savings go to eli c each year. Even the state bank of india can't solicit this kind of funds from the public.
In today's episode for 19th February 2022, we take a quick look at the LIC IPO