There is a lot of discussion around LIC’s upcoming Initial Public Offer and rightly so. LIC is a behemoth in the life insurance sector and its listing will have multiple benefits such as increased transparency, better understanding of insurance sector and so on.
In several ways LIC IPO is a lot like SBI IPO. Just like LIC dominates the insurance sector, SBI dominated the Indian banking sector. A quick history of SBI’s IPO (and also of select nationalised banks) also takes one through multiple institutional changes and developments. The sources of this post are taken from multiple RBI publications: Trends and Progress of Banking in India, Currency and Finance Report, RBI History and so on.
The starting point is 1991 Narasimham Committee report which recommended that banks should raise capital from markets (how all roads on Indian financial sector take you to 1991 report!!):
Mostly Economics 
