A 210 billion rupee ($2.7bn) record share sale by state-run Life Insurance Corp of India was fully taken up four days before the offering closes, as an attractive price and deep discounts spurred demand from small investors. Policyholders and employees placed more bids for shares in the company’s IPO than the amount reserved for them, while the retail portion was nearly 90% subscribed before close of bidding for the nation’s biggest IPO on Thursday. A sixth of the portion set aside for institutional investors was still unsold, exchange data showed. Demand from LIC insurance policyholders was for nearly three times the amount of shares earmarked for them, while employees submitted orders for
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