Indian state-run GIC Re's $1.75 billion IPO subscribed nearly 80 pct on first day
Updated: Wed, Oct 11, 2017
07:22 pm
07:22 pm
Reuters
India is world's fastest-growing economy, but this time there is a tie with China, says IMFState-run reinsurer General Insurance Corp of India`s initial public offering of shares to raise 113.73 billion rupees ($1.75 billion) was subscribed nearly 80 percent on the first day of the sale on Wednesday, stock exchange data showed.
The institutional portion of the sale has already been subscribed more than 1.5 times, the data showed.
The IPO, India`s biggest in seven years, closes for subscription on Friday.
($1 = 65.1550 Indian rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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