The Centre has raised round Rs 21,000 crore from promoting a 3.5 per cent stake in LIC
Life Insurance Corporation of India (LIC) is all set to debut on Indian inventory exchanges on Tuesday. The Centre priced LIC's record-breaking preliminary public providing (IPO) final week at Rs 949, the highest of the indicated vary. It has raised round Rs 21,000 crore from promoting a 3.5 per cent stake within the state-owned insurer.
Here are the dwell updates on LIC itemizing:
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LIC is prone to see a lacklustre debut when it lists on Indian inventory exchanges on Tuesday regardless of the $2.7 billion preliminary public providing being oversubscribed, analysts mentioned.
The IPO closed with almost 3 instances subscription. LIC had final month decreased its IPO measurement to three.5 per cent from 5 per cent determined earlier because of the prevailing uneven market circumstances.
LIC recieved response from home buyers within the preliminary share sale. The IPO closed on May 9 and shares have been allotted to bidders on May 12. The shares will record on the BSE and NSE.
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