SBI Mutual Fund reportedly invested around Rs 1,007 crore, becoming the largest investor in the anchor book quota.
The insurance major mobilised a total of Rs 5,627 crore from anchor investors on Monday.
An anchor investor in an IPO is a qualified institutional buyer (QIB) which invests before the IPO is made available to the public, as per market regulator SEBI’s regulations, in order to instill confidence among investors.
The long-awaited Initial Public Offering (IPO) will open for investors on May 4 and will remain open to subscription till May 9.
The government has brought down the issue size from 5 per cent to 3.5 per cent.
A landmark public issue in the history of the Indian capital market, it is poised to be India’s biggest IPO till date.
The IPO values LIC at Rs 6 lakh crore.
The issue offer of the LIC will be in the price band of Rs 902 to Rs 949.
Also, the policyholders will be offered a Rs 60 discount, while for retail investors, the discount will be Rs 45.
