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.
Foreign institutional investors have on the whole steered clear of Indias biggest share sale, deeming it too expensive given currency risks and the global market backdrop.
The initial public offering (IPO) of Life Insurance Corporation of India opened for subscription today. The public issue will close on May 9. The insurance behemoth stated that it has garnered around Rs 5,627 crore from anchor investors ahead of the IPO.
LIC IPO Highlights: The price band for LIC IPO is Rs 902-949 per equity share and the public issue will close on May 9. LIC policyholders will get a discount of Rs 60 per equity share, while retail investors and employees will get a discount of Rs 45 on each share