Anchor Investors Show "Excellent" Response To LIC IPO: Official
NDTV
Life Insurance Corporation's IPO on Monday saw 'excellent' response from anchor investors, an official said
Life Insurance Corporation's (LIC) initial public offer (IPO) on Monday saw 'excellent' response from anchor investors, an official said.
The government is selling 22,13,74,920 shares in LIC at a price band of Rs 902-949 a share, targeting to raise about Rs 21,000 crore. The issue would be open for subscription for institutional and retail buyers from May 4-9.
The issue opened for anchor investor subscription on Monday and saw 'excellent' response, an official said, adding that the details of price bids would be known later in the day.
The LIC share sale would be the biggest ever amount raised through an initial public offering in the Indian stock market. The previous such high fund raising was seen in IPO of PayTM in 2021 at Rs 18,300 crore and Coal India in 2010 at Rs 15,200 crore.
