LIC IPO subscribed 1.59 times on Day 4

On the third day of bidding, the Life Insurance Corporation of India (LIC), the country’s largest life insurer, had its initial public offering (IPO) subscribed 1.39 times. The issuance was completely subscribed by the end of the second day (Thursday), with policyholders and workers leading the charge.

The LIC issue has been subscribed 1.39 times as of 10 a.m. on Saturday, according to NSE statistics. According to the statistics, policyholders were enrolled 4.01 times, while employees were subscribed 3.06 times. Apart from this, the statistics revealed that qualified institutional buyers (QIBs) were subscribed 0.56 times, non institutional investors 0.76 times, and the retail sector 1.23 times.

Day 4 of the LIC IPO: The issue was 1.59 times subscribed.

For the fourth day, Life Insurance Corporation of India, the country’s largest life insurance firm, has launched its Rs 21,000-crore public issue for subscription. So far, the IPO has been subscribed 1.59 times, with bids for 25.74 crore equity shares versus a target of 16.2 crore.

Retail investors got 1.39 times their money back, workers got 3.46 times their money back, and policyholders got 4.46 times their money back, while qualifying institutional purchasers got 67 percent of the quota and non-institutional investors got 104 percent.

The public subscription period for the LIC IPO will run through Monday, May 9, 2022. It will be available this weekend as well to allow folks to participate. This is maybe the first time a public offer has received a special dispensation. The LIC IPO has a price range of Rs 902-949 per share, with a discount of Rs 60 per share for policyholders and Rs 45 per share for retail investors and LIC workers.