The Cabinet Committee in Economic Affairs (CCEA) is likely to have an initial public offering plan (IPO) for Life Insurance Corporation (LIC), the source said to CNBC TV18. The government plans to make a list of LICs on the exchanges in March FY22.

“The minister panel is arranged to decide better details, including pricing and quantum shares that will be divested by the center,” said the source.

The company works on embedded values, internal efficiency and product restructuring, added sources.

Embedded value represents the market value of the company’s assets associated with shareholders. It also includes the present value of the expected benefits in the future of companies from existing business portfolios such as the date of assessment.

Pasar sales planned in LIC was announced by Minister of Finance Nirmala Sitharaman while presenting the Union budget for the financial year 2020-21.

The center has chosen SBI Capital Markets and Deloitte as a pre-IPO advisor for what can be the largest IPO in the country.

The center has reportedly targeted to collect around $ 24 billion through an ambitious disinvestment program. The total assets of LIC are estimated at around Rs 32 trillion ($ 439 billion), in the 2019-2020 financial year, according to the company’s latest annual report.

The assumption holds the domestic market share that dominates almost 70 percent. At present, the government holds 100 percent of shares in LIC.