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 story : Domestic mutual funds invest `4,002 cr in LIC IPO #FinanceIndia #StockMarketNEWS #Business Indo-Asian News Service New Delhi Domestic mutual funds invested `4,002 crore, accounting for a little

@stockMarketNEWS 24 Days ago

Posted in: #FinanceIndia #StockMarketNEWS #Business

Domestic mutual funds invest `4,002 cr in LIC IPO #FinanceIndia #StockMarketNEWS #Business
Indo-Asian News Service



New Delhi



Domestic mutual funds invested `4,002 crore, accounting for a little over 71% of the total anchor book portion of the much-awaited initial public offering (IPO) of Life Insurance Corporation (LIC).



SBI Mutual Fund reportedly invested around `1,007 crore, becoming the largest investor in the  anchor book quota.



The insurance major mobilised a total of `5,627 crore from anchor investors on Monday.



An anchor investor in an IPO is a qualified institutional buyer (QIB) which invests before the IPO is made available to the public, as per market regulator SEBI’s regulations, in order to instill confidence among investors.



The long-awaited Initial Public Offering (IPO) will open for investors on May 4 and will remain open to subscription tillMay 9.



The government has brought down the issue size from 5% to 3.5%.



A landmark public issue in the history of the Indian capital market, it is poised to be India’s



biggest IPO till date.



The IPO values LIC at ` 6 lakh crore.



The issue offer of the LIC will be in the price band of ` 902 to ` 949.



Also, the policyholders will be offered a ` 60 discount, while for retail investors, the discount



will be ` 45.


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