LIC prices IPO at Rs949 apiece — top end of indicated range

LIC prices IPO at Rs949 apiece — top end of indicated range

Photo: Pramugdha Mamgain/DealStreetAsia

India’s Life Insurance Corp (LIC) has priced its initial public offering at the top of the indicated range, at 949 rupees ($12.28), a source familiar with the matter said on Friday. The state-owned insurance behemoth is likely to be listed on stock exchanges on May 17.