LIC IPO last day: Issue subscribed nearly 3 times | Top 10 points
The Life Insurance Corporation’s (LIC) IPO – India’s biggest public offer – was subscribed 2.95 times on the final day of the offer period on Monday. According to data posted on stock exchanges at 7 pm, against 16,20,78,067 shares on offer, 47,83,25,760 bids were received.The LIC had fixed the price band at ₹902-949 per equity share for the issue. A reservation for eligible employees and policyholders were among the offer. The retail investors and eligible employees will get a discount of ₹45 per equity share, while policyholders will get a discount of ₹60 per share, news agency PTI reported. Top 10 points on LIC IPO final day:1. The subscription of 2.95 times on the last day helped the government mobilise about ₹21,000 crore.2. The Qualified Institutional Buyers (QIBs) category was subscribed 2.83 times. 3. As many as 11.20 crore bids were received for the 3.95 crore shares earmarked for the segment.4. A total of 8,61,93,060 bids were received for 2,96,48,427 shares reserved for non-institutional investors (NIIs), reflecting a subscription of 2.91 times.5. Retail individual investors bid for 13.77 crore shares as against 6.9 crore shares on offer for the segment.6. Policyholders were offered a discount of 60 rupees per share while employees and retail investors were offered 45.7. The policyholders’ portion was subscribed a little over 6 times, while that for employees was subscribed 4.4 times.8. So far, the amount mobilised from the IPO of Paytm in 2021 was the largest ever at ₹18,300 crore, followed by Coal India (2010) at nearly ₹15,500 crore and Reliance Power (2008) at ₹11,700 crore.9. The LIC reduced its IPO size to 3.5 per cent from 5 per cent decided earlier. 10. The country’s largest IPO opened for public subscription on May 4. (With inputs from PTI, Reuters, ANI)
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