Lagatar24 Desk
New Delhi, Feb 18: A public offering of shares by India’s state-run Life Insurance Corp (LIC) is anticipated to open for anchor investors on March 11, according to three sources with firsthand knowledge of the situation.
The offering is expected to be the country’s largest ever at $8 billion.
Other investors will be able to bid on the book a few days later, according to the sources.
The LIC IPO is anticipated to receive regulatory approval by the first week of March, after which an indicative marketing price band would be created, according to the sources, who declined to be identified since the deal discussions are confidential.
According to information, LIC did not respond to a request for comment. A Reuters request for comment was not immediately returned by a representative for the finance ministry.
