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Cyril Amarchand Mangaldas Advises LIC And President To Act Through FinMini On Its Recent IPO

The offer received 7.9 million retail applications, along with the highest number of anchor investors. It was oversubscribed by 2.95 times

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Cyril Amarchand Mangaldas advised the Life Insurance Corporation of India (LIC) and the President of India, acting through the Ministry of Finance on its recent initial public offering of equity shares aggregating to Rs 20,557 crore. This is the largest initial public offering of equity shares in the history of capital markets in India.

The offer received a robust response from the investors, with highest ever participation witnessed from the retail investors with an aggregate of about 7.9 million retail applications, along with the highest number of anchor investors and the largest bid in the anchor book. The offer was oversubscribed by 2.95 times.

The capital markets, general corporate and disputes practice of Cyril Amarchand Mangaldas advised on the transaction.

As a part of the offer, 221,374,920 equity shares of face value of Rs 10 each of the corporation were offered through an offer for sale by the selling shareholder for cash at a price of Rs 949 per equity share, aggregating to Rs 20,557 crore.

The equity shares of the corporation got listed on 17th May, 2022.


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Cyril Amarchand Mangaldas ipo