LIC garners Rs5,627 cr from anchor investors, domestic institutions
Insurance behemoth LIC on Tuesday said it has raised a little over Rs5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO).
image for illustrative purpose
New Delhi: Insurance behemoth LIC on Tuesday said it has raised a little over Rs5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO).
Anchor Investors' (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs949 per equity share, the insurer said in an early morning filing 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 domestic mutual funds through 99 schemes, the filing said. Besides, investment was made by some domestic insurance companies and pension funds.
Some of the prominent names in this category included ICICI Prudential Life Insurance, SBI Life Insurance, Kotak Mahindra Life Insurance, PNB Metlife Insurance, SBI Pension Fund and UTI Retirement Solutions Pension Fund Scheme.
