India said to have slashed LIC's IPO fundraising target in half to $3.9b

India said to have slashed LIC's IPO fundraising target in half to $3.9b

Photo: Reuters

New Delhi is halving its fundraising goal for Life Insurance Corporation of India’s IPO to 300 billion rupees ($3.9 billion), having had to cut its valuation estimates after feedback from investors, a government source said.