Insurance protection behemoth LIC on Tuesday acknowledged it has garnered a minute over Rs 5,627 crore from anchor traders led basically by home institutions sooner than its mega preliminary public offering (IPO).
Anchor Traders’ (AIs) half (5,92,96,853 fairness shares) used to be subscribed at Rs 949 per fairness share, the insurer acknowledged in an early morning submitting to exchanges.
Out of the allocation of about 5.9 crore shares to AIs, 4.2 crore shares (71.12 per cent) were allocated to 15 home mutual funds thru 99 schemes, the submitting acknowledged.
Additionally Read
Apart from, investment used to be made by some home insurance corporations and pension funds. One of the dear prominent names on this class included ICICI Prudential Life Insurance protection, SBI Life Insurance protection, Kotak Mahindra Life Insurance protection, PNB Metlife Insurance protection, SBI Pension Fund and UTI Retirement Solutions Pension Fund Blueprint.
Foreign participation included the Authorities of Singapore, Monetary Authority of Singapore, Authorities Pension Fund Global and BNP Investment LLP.
As per the prospectus, out of the 22.13 crore shares offered on the market, 5.93 crore shares were reserved for anchor traders.
The government by diluting 3.5 per cent stake in LIC would elevate Rs 21,000 crore, the supreme ever IPO within the Indian market. The outdated such excessive fundraising used to be seen within the IPO of Paytm in 2021 at Rs 18,300 crore and Coal India in 2010 at Rs 15,200 crore.
The payment band for LIC IPO is Rs 902-949 per fairness share.
Policyholders will glean a discou
Read Extra