NEW DELHI: India raised 205.6 billion rupees ($2.7 billion) as its biggest initial public offering priced at the top of the indicated range following strong demand from local investors and a last-minute dash by foreign funds. Life Insurance Corporation of India will offer at 949 rupees a share, the state-run firm said in a prospectus … Read more
MUMBAI: The Rs 21,000-crore initial public offering (IPO) for life insurance behemoth LIC received a huge response from domestic institutions and was oversubscribed nearly three times by the time it closed on Monday. LIC’s policyholders, its employees, retail investors, high net worth investors (HNIs) and domestic financial institutions contributed handsomely to the offer. On the … Read more
NEW DELHI/MUMBAI: The Indian government is looking to sell a 3.5% stake in state-owned insurance behemoth Life Insurance Corporation of India (LIC), a senior government and banking source told Reuters on Saturday. The listing is expected to hit the markets in first week of May and details on reservations, discount, issue date and price is … Read more