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IPO

India's LIC to go public at top end of price range

Country's largest-ever share listing will be at 949 rupees

LIC's shares were nearly three times oversubscribed, led by strong demand from small investors including policyholders, employees and retail investors.   © Reuters
SAYAN CHAKRABORTY, Nikkei staff writer | India

BENGALURU -- Indian state-owned insurer Life Insurance Corporation of India (LIC) on Friday priced its shares at 949 rupees ($12.30), the top end of its marketed range of 902 rupees to 949 rupees.

The company will list both on the Bombay Stock Exchange and the National Stock Exchange on May 17.

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