Insurance

LIC IPO: Check latest GMP, subscription status, and other details to know before applying | Markets News

LIC IPO: Check latest GMP, subscription status, and other details to know before applying | Markets News
Written by Arindam
LIC IPO: Check latest GMP, subscription status, and other details to know before applying | Markets News

New Delhi: LIC IPO, the country’s biggest ever, has received an impressive from retail investors and policyholders. The quota for the retail portion was finally subscribed fully on day three on Friday (May 6), signalling strong demand for LIC IPO shares among retail investors. If you haven’t bid for LIC IPO yet, you should know the offer’s grey market price (GMP), subscription status and other details before applying. 

LIC IPO Subscription Status

The Retail Individual Investor (RII) quota garnered over 7.2 crore bids, as against 6.9 crore shares set aside for this segment, as per the data at 11:36 am on Friday, meaning that the segment was fully subscribed. 

Whereas, the Qualified Institutional Buyer and Non-Institutional Investor portion have been receiving a tepid response, according to a report by PTI. NII portion was subscribed 50 per cent, while QIBs’ portion is still lower at 40 per cent.

The policyholder portion was fully subscribed on day one of the offer. The quota has now been subscribed over three times. On the other hand, the reserved employees’ segment was subscribed nearly two and half times.

Overall, LIC IPO is more than fully subscribed as the offer has received 17,98,42,980 bids, as against 16,20,78,067 shares on sale. The last day to bid for LIC IPO shares is May 9. The country’s largest insurer has fixed the price band at Rs 902-949 per equity share for the issue. Also Read: In talks to settle dispute over dues: Supertech’s ex-management tells Supreme Court

LIC IPO Grey Market Price (GMP)  

The GMP for LIC IPO remained at Rs 65 on day three of the LIC IPO. This means that investors could get a gain of Rs 65 on the listing of LIC on public bourses. However, the number is just indicative and could change in the coming days, depending on the demand for IPO shares. Also Read: Is your Aadhaar card fake or real? Here’s how to verify it

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Arindam

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