November 22, 2022
November 17, 2022
NEW DELHI (AP) — A long-awaited initial public offering for India’s state-run Life Insurance Corp. began this week and retail investors were allowed to subscribe to its shares from Wednesday.
The IPO, which is expected to raise up to $2.74 billion, is the largest ever in India. Its partial listing is part of Prime Minister Narendra Modi’s plans to privatize certain industries and bail out state coffers, and analysts expect massive interest, especially from new investors.