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The country's largest insurer and leading institutional investor in the Adani group has seen the market value of its holdings in Adani stocks increase by around Rs 5,500 crore since April, stock exchange data showed.
Both buildings had a common owner, a Madras-based industrialist Muthiah Chidambaram Chettiar.
The 14-storeyed building was the tallest in the country after constructed in 1959.
LIC now has a market value of around Rs 5.54 lakh crore rupees ($71.54 billion) and is India's fifth-biggest company.
A bunch of policy holders had moved the apex court alleging violation of the LIC Act.
The writ petition was filed by policyholders, said Thomas Franco Rajendra Dev, Joint Convenor of NGO People First and the case is listed for Thursday.
Against 16,20,78,067 shares on offer, 16,68,60,765 bids were received – translating into a subscription of 1.03 times, as per data on stock exchanges as of 7 pm.
In conversation with Manorama, state-owned insurance and investment firm's chairman M R Kumar opined that there is no point in waiting indefinitely despite unpredictable market conditions.
Only those who have bought their policy on or before February 13 will be eligible for the policyholder discount. They will get a discount of Rs 60 on each share.
The resolution said that LIC was one of the biggest insurance companies in the world in terms of the number of policies and the efficiency in settling claims.
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