India sets LIC IPO price band between 902-949 rupees

Illustration shows Life Insurance Corporation of India (LIC) logo

NEW DELHI (Reuters) - Indian government has set a price band for the Life Insurance Corporation (LIC) initial public offering (IPO) of 902 to 949 Indian rupees ($11.77 to $12.39) per equity share, a source told Reuters.

The issue is set to open on May 2 for anchor investors and will open for subscription on May 4 and close on May 9, the source added.

($1 = 76.6100 Indian rupees)

(Reporting by Aftab Ahmed; Editing by Edmund Blair)

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