71% of LIC anchor allotment of 59.3 mn shares made to domestic MFs

Insurer raises Rs 5,627 cr in anchor book but overseas investors disappoint

Life Insurance Corporation of India (LIC), on Monday, raised Rs 5,627 crore from anchor investors ahead of its mega initial public offering (IPO), with 71 per cent of the amount coming from domestic mutual funds (MFs), shows a late disclosure made by the company.

In total, the state-owned insurance giant allotted nearly 59.3 million shares to 123 investors at Rs 949 apiece.

“Out of the total allocation of 59,296,853 equity shares to the anchor investors, 42,173,610 equity shares (71 per cent of the total allocation) were allotted to 15 domestic mutual funds (MF) through 99 schemes,” LIC said in a