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The government raised roughly 205 billion rupees ($2.7 billion) from selling a 3.5% stake in the IPO, a far cry from its initial target to bring in up to $12 billion.
Life Insurance Corporation of India (LIC) is an Indian multinational public sector life insurance company headquartered in Mumbai.It is India's largest insurance company as well as the largest institutional investor with total assets under management worth ₹ 52.52 trillion (US$610 billion) as of March 2024. [4]
The IPO of Life Insurance Corporation (LIC), India's biggest insurer, has got off to a strong start, with 59.3 million shares that were set aside for anchor investors being subscribed at 949 ...
In the calendar year 2024, NSE became top global stock exchange by IPO proceeds marking a milestone in global equity markets. [ 20 ] [ 21 ] In CY 2024, NSE helped companies raise Rs 1.67 lakh crore (US$19.5 Bn) with 268 IPOs.
Life Insurance Corp's (LIC) $2.7 billion IPO, India's largest public issue, was subscribed 67% on the first day of bidding, even as a surprise rate hike by the central bank roiled markets.
The company got incorporated as a public limited company in Mumbai on 11 October 2000 and received Certificate of Commencement of Business from the RoC on 20 November 2000 and got registered with the IRDAI for carrying out business of life insurance on 29 March 2001. [6]
LIC Housing Finance Limited (LIC HFL) is the largest Housing Finance Company in India, with a registered corporate office in Mumbai. It is a deposit taking housing finance company, and it is a subsidiary of LIC , mainly providing long-term financing to people who purchase or construct residential houses or flats.
LIC, the country's biggest insurance company, is planning to float a 5% stake to raise about $8 billion next month, which could make it India's largest initial public offering (IPO) by far.