The record Rs 21,000 crore initial public offering (IPO) by Life Insurance Corporation of India (LIC) was oversubscribed. As of 12:06 pm today, the IPO was booked 1.12 times as investors bid for 18.16 crore shares by the end of bidding on the third day of subscription for India's largest public issue, compared with 16.20 crore shares on offer, exchange data showed. LIC set the initial price band at Rs 902 to Rs 949 a share.