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Life Insurance Corporation of India (LIC), has made a bid for shares worth Rs.7,000-8,000 crore in the on going IPO of General Insurance Corporation of India (GIC Re).
GIC Re IPO is likely to raise Rs.11,372 crore at the upper end of the price band of Rs.855-912 per share.
VK Sharma, LIC Chairman, has confirmed that LIC has made bid for shares in the GIC Re IPO, but he did not comment anything on the amount of the bid.
