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SET TO CREATE MULTIBAGGER WEALTH FOR INVESTORS? State-owned insurance group and investment company, Life Insurance Corporation of India (LIC), last week, filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to raise funds via an initial public offering (IPO). The IPO consists of an offer for sale of up to 316.25 million shares by the Government of India. The LIC IPO is likely to be the biggest IPO in India till date. The initial public offering of over 31.6 crore shares or five per cent of the government’s stake is likely to hit the D-street in March and employees and policy holders of the insurance behemoth would get a discount over the floor price. As per the prospectus, employees and policyholders of the country’s largest insurer will be getting a discount over the floor price. The portion planned to be reserved for policyholders can go up to maximum of 10 per cent. “The aggregate of reservations for eligible policyholders shal