LIC IPO issue subscribed 0.83 times on day 2

5 May 2022 , 01:42 PM

The initial public offering of country’s largest life insurance company Life Insurance Corporation of India has subscribed 83 per cent, receiving bids for 13.57 crore equity shares against offer size of 16.2 crore equity shares.

The portion set aside for policyholders portion has been subscribed 2.53 times, staff 1.74 times, and retail investors subscribed 0.77 times, while QIBs bid for 0.34 times shares of their allotted quota and NII lapped up 0.33 times of their portion.

LIC is the biggest IPO in terms of issue size in Indian market history, the total issue size of the IPO is Rs20,557 crores. LIC IPO will remain open till 9th May 2022.