India State-Run Insurer LIC Seeks $8.7 Billion From IPO as Roadshows Start
- Shares may be priced between 2,000-2,100 rupees, sources said
- Details could change based on investor appetite, govt views
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Life Insurance Corporation of India is looking to raise about 654 billion rupees ($8.7 billion) from its initial public offering, according to people with knowledge of the matter.
Shares of the state-run insurer could be priced between 2,000 rupees to 2,100 rupees each, with discounts to some retail investors, the people said, asking not to be identified as the deliberations are private. The issue is slated to run March 10-14 if regulatory approvals are obtained in time, they added.