LIC raises Rs 5,627 cr from anchor investors led by domestic firms

New Delhi, May 3

Insurance behemoth LIC on Tuesday said it has garnered a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega IPO.

Anchor Investors’ (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share, the insurer said in an early morning filing to exchanges.

Out of the allocation of about 5.9 crore shares to AIs, 4.2 crore shares (71.12%) were allocated to 15 domestic mutual funds through 99 schemes, the filing said.

Besides, investment was made by some domestic insurance companies and pension funds. Some of the prominent names in this category included ICICI Prudential Life. SBI Life, Kotak Mahindra Life Insurance, PNB Metlife Insurance, SBI Pension Fund and UTI Retirement Solutions Pension Fund Scheme. — PTI

MFs GET 71% shares

Out of the allocation of about 5.9 crore shares to AIs, 4.2 crore shares (71.12%) were allocated to 15 domestic mutual funds through 99 schemes