LIC's IPO sees over 59m shares reserved for anchor investors

LIC's IPO sees over 59m shares reserved for anchor investors

Life Insurance Corporation of India | Image from the corporation's official website

The IPO of Life Insurance Corporation (LIC), India’s biggest insurer, has got off to a strong start, with 59.3 million shares that were set aside for anchor investors being subscribed at 949 rupees apiece, according to an exchange filing on Tuesday.