The amount New Delhi expects to raise from the initial public offering (IPO) of the state-owned insurer is a billion dollars short of its projection last week, and a third of the more than $8 billion it initially planned to raise in February
Mumbai (Reuters) - India expects to raise up to $2.74 billion from selling a 3.5% stake in Life Insurance Corp's (LIC) IPO, according to a prospectus filed late on Tuesday, just a third of its original hopes after investors questioned the insurers' growth potential.