Mumbai

ICICI Prudential Life Insurance Co has attracted strong demand for its initial public offering of as much as 60.6 billion rupees (S$1.24 billion), as the country's biggest such deal in six years drew orders of 10.5 times the amount of stock for sale.

Institutional investors subscribed to about 11.8 times the number of shares reserved for them, while retail investors bid for 1.4 times their stock allocations in Mumbai on the final day of the offer, according to the National Stock Exchange. ICICI Bank Ltd is selling 181.3 million shares at a range of 300 rupees to 334 rupees each.