The Ahmedabad-based firm's IPO will open from May 10 to May 12
Sees participation from 3.6 mn individual investors; policyholders lead
By Thursday, the second day of the offering, investors had already put in orders for 90% of the shares for sale in India's biggest IPO.
"We see the arrival of external shareholders with experience of the insurance industry as a further key benefit of the IPO," Moody's said.
The three-day initial share-sale will open for public subscription on May 10 and the bidding for anchor investors will open on May 9, according to the company
Interestingly, LIC's IPO will remain open for subscription even on the weekend, given the large amount the government is looking to raise from the market
The non-institutional category, consisting of corporates, individuals, and others has seen muted demand, with only 5 per cent subscription so far
Retail investors will be alloted 35% of the total shares in the offer, and given a discount of 45 rupees from the IPO price
The much-awaited IPO of Life Insurance Corporation is set to open for subscription today, after it recorded bumper participation from anchor investors. Find out if you should subscribe to it.
LIC public offer, the country's biggest-ever IPO, on Wednesday opened for subscription for retail and institutional investors.
But its share by volume declines in the March quarter
Insurer raises Rs 5,627 cr in anchor book but overseas investors disappoint
Ahead of its initial public offering, insurance behemoth LIC on Tuesday approached its policyholders through SMS and other medium to inform them about the share sale.
The insurance behemoth aims to protect its market share through increased focus on bancassurance and enhancing direct sales of its products on its website
LIC raises a total of Rs 5,627 crore in anchor book; overseas funds pour in just Rs 1,624 crore
The insurer has growth potential, underestimated embedded value and the government sell its stake in the company again
The Indian government has said it expects to raise up to $2.74 billion, just a third of its original target, from selling a 3.5% stake in LIC in the country's biggest initial public offering (IPO)
Delhivery's IPO will be second biggest this year after LIC
The LIC IPO aims to price shares between 902 rupees and 949 rupees each
This could free up more funds to invest in the largest IPO, say industry insiders