News Karnataka
Tuesday, August 16 2022
Markets

LIC IPO issue subscribed 2.89 times on final day

LIC IPO issue subscribed 289 times on final day
Photo Credit : IANS

New Delhi: The LIC IPO has received a robust response from investors with the insurance major’s offer having been subscribed 2.89 times.

It received bids for 46.77 crore equity shares against the IPO size of 16.2 crore equity shares.

The portion set aside for policyholders has been subscribed 5.97 times, employees bid 4.31 times the allotted quota, and retail investors 1.94 times, while the reserved portion of qualified institutional buyers have booked 2.83 times and that of non-institutional investors 2.8 times, as per reports.

The long-awaited Initial Public Offering (IPO) for the LIC will be open for subscription till Monday i.e May 9.

Despite the government bringing down the issue size from 5 per cent to 3.5 per cent, it is poised to be a landmark public issue in the history of the Indian capital market and India’s biggest IPO to date.

The IPO values LIC at Rs 6 lakh crore.

The issue offers of the LIC were in the price band of Rs 902 to Rs 949.

Also, the policyholders were offered a Rs 60 discount, while for retail investors, the discount was Rs 45.

Read more:

LIC IPO: Issue subscribed 1.02 times, policyholders’ 3 times

LIC IPO: Price band fixed, Rs 60 discount for policyholders

IPO flows to strengthen rupee in 2022; tighter policy likely dampener

2021 record year for global IPO market: EY

Fresh IPO inflows, low oil prices to strengthen rupee 

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