The Centre is reportedly seeking a valuation of ₹8-₹10 lakh crore for Life Insurance Corporation (LIC) through what is likely to be India's largest IPO. The Centre, which may dilute 5-10% of its stake in the insurer, expects to raise between ₹40,000 crore and ₹1 lakh crore, Bloomberg reported citing sources. Earlier, it appointed 10 banks to manage the IPO.