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India Approves As much as 20% Foreign Direct Investment in Giant Insurer LIC
India’s cabinet approved on Saturday a policy amendment allowing foreign direct investment of as much as 20% in Life Insurance Corp of India (LIC), a government source said, a change aimed toward easing the listing of the state-run insurer. India’s biggest insurance company plans to drift a stake of 5% to lift about $8 billion […]
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Foreign Institutional Investors Steer Clear of India’s Biggest IPO
Foreign institutional investors have on the entire steered clear of India’s biggest share sale, deeming it too expensive given currency risks and the worldwide market backdrop. With just hours to go until the tip of the subscription period for the $2.7 billion initial public offering of Life Insurance Corp. of India, foreign institutional funds have […]