LIC IPO subscribed 1.79 times on Day 5
On Sunday, the Initial Public Offering of the Insurance giant, Life Insurance Corporation, the biggest public offer in the history of Indian Stock Exchanges, was subscribed 1.79 times. The last day to bid for the IPO of LIC is May 9. According to the data on the Indian Bourses, 29,08,27,860 bids were received against 16,20,78,067 shares on offer.
On the other hand, the Qualified Institutional Buyer (QIB) category has not been fully subscribed to yet. Bids were received for 0.67 percent of the shares offered for the segment. This indicates a low interest of QIB in the IPO of LIC. If we talk about non-institutional investors (NIIs), a total of 3,67,73,040 bids were received for 2,96,48,427 shares reserved for the category.
Additionally, Retail individual investors bid for 10.99 crore shares as against 6.9 crore shares on offer, registering an over-subscription of 1.59 times. Further, the data revealed that the policyholders' segment was subscribed 5.04 times, while the section for employees was subscribed 3.79 times. LIC has fixed the price band at Rs 902-949 per equity share for the issue.