LIC invests ₹400 crore in NSE anchor book ahead of IPO
after close1 source ↓written by the desknot a recommendation
- valued
- 2.24 million shares
- valued
- ₹400.3 crore
- securing
- 1.77 million shares
- 1.4 million shares
The National Stock Exchange of India allocated ₹67.46 billion ($703 million) to anchor investors ahead of its IPO. LIC emerged as the largest investor, acquiring 2.24 million shares valued at ₹400.3 crore. Other notable investors include Societe Generale and Norway’s Government Pension Fund, securing 1.77 million shares and 1.4 million shares, respectively.
This substantial investment by LIC is expected to bolster market confidence ahead of the IPO launch on Thursday, potentially influencing trading activity in the financial sector.
Not investment advice. For informational purposes only.