LIC IPO gets commitments from five domestic MFs: Report
Norway’s Norges Bank Investment Management, Singapore’s GIC Pte, and Abu Dhabi Investment Authority have also committed to becoming anchor investors
LIC IPO has received strong support in the form of bids from large investors for twice the size of the anchor book, a report in Bloomberg said, citing sources.
Domestic mutual funds including SBI, Aditya Birla, ICICI Prudential, HDFC and Kotak have made commitments of Rs 150-1,000 crore each for the public offer, according to a report.
Norway’s Norges Bank Investment Management, Singapore’s GIC Pte, and Abu Dhabi Investment Authority have also committed to becoming anchor investors in the LIC IPO, according to Bloomberg.
The IPO is set to be launched on May 4 and will close on May 9. The IPO subscription window for anchor investors will be opened on May 2.
LIC IPO will be a pure offer for sale. Out of the 22.13 crore shares offered for sale, around 5.93 crore shares have been reserved for anchor investor portion. Employee reservation portion is at 1.58 million while policyholder reservation at 22.14 million.
Up to 15,81,249 shares and 2,21,37,492 shares are reserved for employees and policyholders.
Over 9.88 crore shares are reserved for Qualified Institutional Buyers (QIBs) and over 2.96 crore shares for non-institutional buyers.
Ten percent of the LIC IPO has been reserved for policyholders. While bidding, a discount will also be offered to policyholders and LIC employees.
''Bids can be made for a minimum of 15 equity shares and in multiples of 15 equity shares thereafter,'' the LIC said in the Red Herring Prospectus approved by Sebi.
Published on: Monday, May 02, 2022, 01:16 PM ISTRECENT STORIES
-
7 Morning Habits That Will Make You Rich -
Harry Parmar On Playing A Hijacker In IC: 814: 'Tapping Into A Darker Mindset Was Challenging'... -
Centre Informs Bombay High Court Of Steps To Prevent Overnight Detention For Interrogation -
Maharashtra Cabinet Approves 38 Infrastructure Initiatives, Allocates Over ₹50,000 Crore For Key... -
Maharashtra: State Cabinet Increases Remuneration By 10% For 12,793 Kotwals, Grants ₹8,000 Stipend...