Claiming the initial public offering (IPO) of Life Insurance Corporation of India (LIC) to become the biggest IPO of India, the Government of India has been encouraging Indian citizens and foreign investors to invest in the upcoming LIC IPO. The insurer filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on Sunday, January 13. In the prospectus, it has cautioned investors to consider various internal and external risk factors involved, before investing.