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Over 25 anchor investors evinced interest for LIC issue offer: Official
The proposed lady public proposal by state-claimed Life Insurance Corporation of India (LICI) has gotten interests from in excess of 25 anchor financial backers both unfamiliar and homegrown, an authority expressed here on Friday. The public authority intends to weaken 3.5 percent of its stake in LIC to raise Rs 21,000 crore from the market one month from now. During the arrangement of LIC in 1956, the public authority had injected Rs 5 crore as seed capital. An authority of one of the lead chiefs said 50% of the proposition is saved for QIPs, including anchor financial backers. Promoting He said 35% is being held for retail financial backers, 15% for high networth people and ten percent for strategy holders. The anchor book will be opened on May 2, he said.