LIC IPO anchor book oversubscribed; gets bids of over ₹7,000 cr

The anchor investor portion of LIC initial public offering (IPO) was oversubscribed on Monday, the first day of subscription. Reports said the portion received bids in excess of ₹7,000 crore against the offer of ₹5,630 crore for anchor investors out of a total offer size of ₹21,000 crore. Investors likely to have bid include Norges Bank and GIC among others.