Insurance Giant LIC's US$ 2,7 Billion IPO, India's largest, Opens for Subscription

Sumber: Reuters | Editor: Anastasia Lilin Yuliantina

KONTAN.CO.ID - MUMBAI. State-owned Life Insurance Corp's (LIC) US$ 2,7 billion IPO, India's largest, opened to subscriptions from retail and other investors on Wednesday following strong demand from anchor investors led by domestic mutual funds.

The Indian government expects to raise the sum, just a third of its original target, from selling a 3,5% stake in the country's top insurance company, giving it an initial value of US$ 78,52 billion.