The largest financial institution in India, Life Insurance Corporation (LIC), currently managing more than Rs 38 lakh crore of public funds, is getting listed on the stock exchanges with an initial public offering (IPO) of Rs 21,000 crore early next month.

LIC priced its IPO, the largest in the Indian history of the market despite a reduction in size, at Rs 902-949 per share.

It has offered a discount of Rs 60 to policyholders and Rs 45 to retail investors and employees. An initial public offering is scheduled for May 4 and will close on May 9.