JSW Group Chairman Sajjan Jindal told the newspaper that the business will offer $4.5 billion in its own equity and $2.5 billion from unknown private equity partners for the purchase, and that it will acquire a 63 percent interest in Ambuja Cements.
Foreign institutional investors have mostly avoided the LIC IPO, believing it to be excessively costly in light of currency risks and the global market environment.
The current sluggish market is affecting the flow of initial investments in such a huge IPO as the LIC IPO. Should you buy LIC IPO shares on the last day of bidding?