Life Insurance of Corporation of India’s initial public offering gets bids from large investors for twice the size of the anchor book, according to people with the knowledge of the matter.
The anchor book of 56 billion rupees ($733 million) for the country’s largest public offering of 210 billion rupees will be announced on Monday.
Singapore’s GIC Pte and Norway’s sovereign wealth fund are among the anchor investors, the people said, asking not to be identified before an official announcement. LIC didn’t immediately respond to email seeking comment.
The LIC IPO aims to price shares between 902 rupees and 949 rupees each. Firms in India have raised about $1.1 billion through IPOs this year, data compiled by Bloomberg show. That’s less than half of the almost $3 billion raised in the same period in 2021. The offering runs from May 4 to 9 for other investors.
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