Life Insurance Companies – Comparison

A question or two:

1. Has LIC gone public with their insurance business only, or does it represent everything they own, investments, real estate and so on…

2. They will have to dilute their ownership from 96.5% to 75% at some time…how is that going to affect the stock price, theoretically, whenever that happens…? If I remember correctly, the stock cracked 4% the day IPO lock in period for anchor investors ended, is it the similar situation?

Thanks in advance