, India

LIC closes IPO with nearly three-fold oversubscription

The IPO of a 3.5% stake is now India’s biggest.

The initial public offering (IPO) of India’s biggest insurer, the Life Insurance Corp (LIC) has oversubscribed 2.95 times.
.
According to data posted on the National Stock Exchange of India (NSE), against 162,078,067 shares on offer, 478,325,760 bids were received.

The Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said that bidders in the LIC IPO will be allocated shares on 12 May, with the insurance giant listed on the stock exchange on 17 May. Shares are marketed at a range of 902-949 rupees apiece

The IPO is expected to raise $2.7b.
 

Follow the link s for more news on

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

APAC emerges as leader in renewables insurance
RE is projected to account for 45% of global electricity generation by 2030.
Insurance
IFRC-DREF triggers insurance payout after disaster relief demands exceed threshold
The policy provides up to $16.92m in coverage.The International Federation of Red Cross and Red Crescent Societies' Disaster Response Emergency Fund (IFRC-DREF) has triggered its first-ever insurance payout after disaster relief demands exceeded its deductible threshold. 
Insurance