BENGALURU -- The initial public offering of state-owned Life Insurance Corp. of India was subscribed 67% on the first day Wednesday, driven by strong interest from individuals -- retail investors, policyholders and employees -- who were offered shares at a discount.
The insurer's shares will be marketed through Monday at a range of 902 to 949 rupees apiece, with the IPO set for May 17 anticipated to raise a record 205.57 billion rupee ($2.7 billion).
