GIC IPO valued at $1.7bn

India's GIC has priced its IPO at 912 rupees per share,
valuing the offering at just under 111.8bn rupees ($1.7bn).
Based on the 877.2 million shares outstanding after the sale,
the offer assigns a market value to GIC of 800bn rupees.
The IPO comprised 124.7 million shares, including 17.2 million
new shares and 107.5 million held by the state. The sale reduces
the government's stake from 100 percent to 85.78 percent.
A discount of 45 rupees per equity share on...