Govt raises ₹20,560 crore as India's biggest-ever IPO of LIC priced at ₹949

The government has raised ₹20,560 crore as India's biggest-ever IPO of Life Insurance Corporation (LIC) has been priced at the top of the range at ₹949. The IPO, through which the government is selling its 3.5% LIC stake, was oversubscribed 2.95 times on its final day of bidding. LIC is likely to list on the stock exchanges on May 17.