lic ipo: LIC IPO investors said to bid for double of anchor book

Life Insurance coverage of Company of India’s preliminary public providing will get bids from giant traders for twice the scale of the anchor e-book, in keeping with individuals with the data of the matter.

The anchor e-book of Rs 56 billion ($733 million) for the nation’s largest public providing of Rs 210 billion shall be introduced on Monday.

Singapore’s GIC Pte and Norway’s sovereign wealth fund are among the many anchor traders, the individuals mentioned, asking to not be recognized earlier than an official announcement. LIC didn’t instantly reply to e-mail searching for remark.

The LIC IPO goals to cost shares between Rs 902 and Rs 949 every. Corporations in India have raised about $1.1 billion by way of IPOs this 12 months, knowledge compiled by Bloomberg present. That’s lower than half of the virtually $3 billion raised in the identical interval in 2021. The providing runs from Might 4 to 9 for different traders.