LIC IPO: The anchor book sees strong demand

LIC IPO will be a pure offer for sale. Out of the 22.13 crore shares offered for sale, around 5.93 crore shares have been reserved for anchor investor portion.

The public offer of Life Insurance of Corporation got bids from large investors for twice the size of the anchor book, Bloomberg reported, citing sources

LIC will announce the anchor book of ₹5600 crore for the country’s largest public offering of ₹21,000 crore later today. 

Life Insurance Corporation (LIC) has set its price band for the Initial Public Offer (IPO) at ₹902 to ₹949 per equity share. The public offer starts on May 4 and will remain open for bidders till May 9.

Singapore’s GIC Pte and Norway’s sovereign wealth fund are among the anchor investors, Bloomberg reported, citing sources.