LIC (Life Insurance Corporation of India) is set to become India’s largest ever IPO, which is estimated to raise US$2.7 billion. Photo: Reuters
India’s largest IPO: LIC listing draws interest from retail investors, big names like Singapore’s GIC despite inflation, war worries
- Russia’s invasion of Ukraine, inflation worries, monetary tightening and slowing economic growth did not deter investors from buying all 221 million LIC shares
- India’s government is desperate for proceeds from the sale of its 3.5 per cent stake in Life Insurance Corporation to help plug a shortfall in its budget
LIC (Life Insurance Corporation of India) is set to become India’s largest ever IPO, which is estimated to raise US$2.7 billion. Photo: Reuters
