Life Insurance Corporation of India’s initial public offering (IPO) on Saturday saw full subscription from the non-institutional investor segment on the 4th day of the offering.
The issue was opened for subscription on May 4th and continues to attract strong interest from all categories of investors.
The portion reserved for eligible policyholders was subscribed 4.67 times, the reservation for eligible employees was subscribed 3.54 times, the retail category was subscribed 1.46 times, the non-institutional category was subscribed 1.08 times and the Qualified Institutional Buyers category was subscribed 0.67 times.
The long-awaited IPO of LIC remains open for subscription until May 9th.
The government has reduced the issuance volume from 5 percent to 3.5 percent.
It will be a landmark public offering in the history of the Indian capital market and is poised to become the country’s largest IPO to date.
The IPO values LIC at Rs 6 lakh crore. The issuance offering of the LIC will be in the price range of Rs 902 to Rs 949.
Also, a rebate of Rs 60 is offered to policyholders while the rebate for retail investors is Rs 45.
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