*LIC IPO investors said to bid for double of anchor book – The Economic Times

Clipped from: https://economictimes.indiatimes.com/markets/ipos/fpos/lic-ipo-investors-said-to-bid-for-double-of-anchor-book/articleshow/91235630.cms

Synopsis

Singapore’s GIC Pte and Norway’s sovereign wealth fund are among the anchor investors, the people said, asking not to be identified before an official announcement. LIC didn’t immediately respond to email seeking comment.

Life Insurance of Corporation of India’s initial public offering gets bids from large investors for twice the size of the anchor book, according to people with the knowledge of the matter.

The anchor book of Rs 56 billion ($733 million) for the country’s largest public offering of Rs 210 billion will be announced on Monday.

Singapore’s GIC Pte and Norway’s sovereign wealth fund are among the anchor investors, the people said, asking not to be identified before an official announcement. LIC didn’t immediately respond to email seeking comment.

The LIC IPO aims to price shares between Rs 902 and Rs 949 each. Firms in India have raised about $1.1 billion through IPOs this year, data compiled by Bloomberg show. That’s less than half of the almost $3 billion raised in the same period in 2021. The offering runs from May 4 to 9 for other investors.

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