LIC makes Rs8,000 crore bid in GIC Re IPO2 min read . Updated: 12 Oct 2017, 04:17 AM IST
LIC’s substantial bid of Rs8,000 crore worth of shares is the reason why the GIC Re IPO was substantially subscribed on the first day itself
Mumbai: Life Insurance Corp. of India (LIC) has put in a major bid for shares of reinsurer General Insurance Corp. of India Ltd (GIC Re), in the latter’s ongoing initial public offering (IPO), said two people aware of the development, on the condition of anonymity.
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