The government has been promoting the Life Insurance Corporation of India’s (LIC’s) initial public offerings (IPO) and even amended several rules and regulations so that even foreign investors can participate in the LIC IPO. But the draft red hearing prospectus (DRHP) submitted by LIC to the Securities and Exchange Board of India (Sebi) on February 13, says that complex regulatory system of the Indian government along with various investment restrictions have become roadblocks for its business.