Life Insurance Corporation's public offer started with widespread fanfare, but apart from a euphoric subscription, it has all been downhill for the insurance behemoth. India's biggest initial public offering (IPO) received an overwhelming response with its issue oversubscribed nearly three times, which has turned out to be the only bright spot in the so-called phase termed "LIC 2.0."
The Life Insurance Corporation's (LIC) record Rs 21,000 crore initial public offering (IPO) received tremendous demand; however, the insurance behemoth risks listing its shares at a lower price on stocks exchanges on Tuesday.
LIC's Mega IPO: India's biggest-ever initial public offering (IPO), by Life Insurance Corp (LIC), is fully booked under all categories and the focus shifts to the listing on stock exchanges on May 17.