LIC Said to Lead Bidding in NSE’s $2.4 Billion India IPO

National Stock Exchange of India Ltd. paid approximately 1.86 billion rupees in fees to 20 banks involved in its $2.4 billion initial public offering. According to reports, Life Insurance Corp. of India Ltd. emerged as the largest bidder in the offering. This indicates significant demand from local long-term institutional investors, although retail participation remained subdued. The financial details were disclosed through an exchange filing regarding the massive India IPO process and its associated banking costs.