The Life Insurance Corporation's (LIC) mega public issue opened today to an overwhelming response, with over 60 per cent bids, led by policyholders and employees.
The most awaited and the biggest IPO to date, that of the insurer Life Insurance Corporation of India (LIC) is set to hit the primary market on May 4 to raise Rs 21,000 crore from investors. Here’s what at least 10 analysts on Dalal Street have to say about the IPO.
The initial public offer (IPO) of Life Insurance Corporation of India (LIC) has opened for anchor investors today. Usually, an IPO is open for anchor investors a day before the issue opens but since the IPO will open on May 4 and the Indian stock market is closed on May 3 on account of Id-Ul-Fitr, anchor investors have been allowed to bid for the share sale today. LIC plans to raise up to Rs 5,630 crore at the upper end of the price band from the anchor investors.