Based on a very high level of evaluation of the Embedded value of LIC's portfolio, the market capitalisation of LIC could be '8 lakh crore to '10 lakh crore," said Ashvin Parekh managing director at Ashvin Parekh managing director at Ashvin Parekh Advisory Services. "After two capital infusions, the government owns a substantial part of IDBI Bank (46.5 per cent stake) which will be completely sold off. The new investors will seek complete independance in putting the governance framework including independant directors, nominee directors. Also considering the quality of assets of IDBI Bank, it remains to be seen how much an investor will be expected to pay for the troubled bank," added Parekh. "Discussion with respect to law ministry for legislative changes for LIC IPO has already begun," said finance minister Nirmala Sitharaman at a press conference after presenting the Budget.