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.
Life Insurance Corporation of India's (LIC's) Rs 21,000 crore IPO, India's largest public issue, was subscribed 81 per cent on the second day of bidding so far on Thursday. The initial share sale, which will remain open for an extra day on Saturday (May 7), will close on May 9. LIC shares will be listed at the stock exchanges on May 17.
The much-awaited initial public offering (IPO) of Life Insurance Corporation of India, which opened for subscription today, will remain open for retail investors to bid for an extra day. The LIC IPO will take subscriptions even on Saturday (May 7), an unusual move aimed at attracting more investors. On the first day of bidding, the public issue's more than one-third portion was booked with the policyholder category subscribed 1.22 times.
The initial public offering (IPO) of Life Insurance Corporation of India opened for subscription today. The public issue will close on May 9. The insurance behemoth stated that it has garnered around Rs 5,627 crore from anchor investors ahead of the IPO.