The DIPAM secretary Tuhin Kanta Pandey further said that this could be a fine example of Aatmanirbhar Bharat where domestic investors have backed such a large issue.
LIC's Mega IPO: India's biggest-ever initial public offering (IPO), by Life Insurance Corp (LIC), is fully booked under all categories and the focus shifts to the listing on stock exchanges on May 17.
Varun Sridhar, CEO of Paytm Money, said, "LIC pulled off the biggest IPO in the history of Indian Capital markets, with more than 7 million applications."
Foreign institutional investors have on the whole steered clear of Indias biggest share sale, deeming it too expensive given currency risks and the global market backdrop.
The record Rs 21,000 crore initial public offering (IPO) by Life Insurance Corporation of India (LIC) was oversubscribed by more than 2 times. As of 12:12 pm today, the IPO was booked 2.05 times as investors bid for 33.15 crore shares on the last 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.