LIC IPO Subscribed 1.03 Times on Second Day of Bidding
Mumbai (Maharashtra) [India]- The initial public offering (IPO) of Life Insurance Corporation of India (LIC) has been subscribed 1.03 times till the second day of bidding on Thursday. So, LIC IPO subscribed 1.03 times on the second day of bidding.
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LIC IPO Subscribed 1.03
Policyholders and employees, who are offered discounts, are driving the subscriptions. The policyholders’ portion has been subscribed to 3.11 times. So, The employees’ portion has been subscribed 2.21 times.
The country’s largest IPO opened for subscription on Wednesday and will close on May 9.
Equity Share
LIC has set its price band for the Initial Public Offer (IPO) at Rs 902 to Rs 949 per equity share. Policyholders are offered a discount of Rs 60 per equity share, while retail investors and employees are offered a discount of Rs 45 on each share.
IPO for Sale
The IPO is a pure offer for sale. Out of the 22.13 crore shares offered for sale, around 5.93 crore shares have been reserved for the anchor investor portion. So, the Employee reservation portion is at 15.8 lakh while the policyholder reservation is at 2.21 crore. So, Retail investors have subscribed 93 percent of the shares reserved.
However, there has been a muted response in the non-institutional category. The non-institutional category that consists of corporates, individuals, and others has witnessed less than 50 percent of subscriptions so far. (ANI)
