Life Insurance Corporation of India (LIC) logo is seen displayed behind figurines in this illustration taken February 20, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights ...

Life Insurance Corporation of India (LIC) hopes to decide on acquiring stake in a health insurance company by the end of March, its chief executive said on Tuesday.

State-run Life Insurance Corp. Of India (LIC), which is planning the country's largest IPO next month, is well capitalised, the company's chairman M.R Kumar said on Monday.

LIC's listing is set to be India's biggest ever IPO, with the government aiming to raise up to 900 billion rupees ($12.2 billion) from selling a stake.