LIC IPO Update: Public sector Life Insurance Corporation of India i.e. LIC’s Initial Public Offer (IPO) retail on the third day of bidding on Friday, 100% subscription in the first hour itself found it. According to the data on the stock markets till 11.36 am on Friday morning, more than 7.2 crore bids were received in the category of 6.9 crore shares reserved for retail investors. In this way this category has got full subscription.
Know other investors’ subscriptions to the IPO
While there is no specific response for the Qualified Institutional Buyers (QIBs) and Non-Institutional Buyers segment so far. So far, 41 per cent of the QIBs and 56 per cent of the non-institutional buyers have been subscribed. At the same time, the policyholders portion has got subscription up to 3.55 times. Whereas the reserved portion for employees has received about 2.64 times the subscription. In all, 18,96,66,660 bids have been received for 16,20,78,067 shares of the IPO.
Know when the IPO is open
The company’s IPO opened for retail and institutional investors on Wednesday and will close on May 9.
Special features of LIC IPO
Government expects to raise Rs 21,000 crore from LIC’s IPO. It is selling its 3.5 per cent stake in LIC. The price range for the IPO has been fixed at Rs 902 to 949 per share. This IPO is in the form of Offer for Sale (OFS) and through this the government wants to sell 22.13 crore shares. The company’s shares may be listed on BSE and NSE on May 17.