71% of LIC anchor allotment made to domestic MFs

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

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

SBI MF subscribed to shares worth over Rs 1,000 crore via four different schemes. ICICI Prudential MF subscribed to shares worth over Rs 700 crore through over half a dozen schemes and HDFC MF subscribed to shares worth over Rs 650 crore of the insurer via 10 different schemes.