DIPAM Secretary Tuhin Kanta Pandey said Monday that Life Insurance Corporation's long-awaited IPO has been a huge success, with the issue having been subscribed nearly three times as of today's close.
“We are pleased to announce that the IPO, which began on May 4th, ended at 7:00 p.m. today. m. and it was a huge hit with all categories of investors; this will eventually lead to the listing of LIC and the deepening of the capital market.” Pandey said during a news conference tonight.
The Secretary of DIPAM also reported that the LIC IPO will be issued on May 12th.
“LIC IPO was subscribed 2.95 times on the last opening day on May 4th and received bids of Rs 47.83 crore versus Rs 16.20 crore on offer. Many new accounts were opened due to the LIC IPO The LIC IPO will be filled takes place on May 12,” Pandey said.
LIC's IPO, the country's largest public offering, opened on May 4. According to stock market data, 18.104.22.1680 bids were received against 16.20.78.067 shares today at 19:00.
For non-institutional investors (NII), a total of 8,61,93,060 offers were received for 2,96,48,427 shares reserved for the class, representing a multiple of 2.91 subscriptions.
Individual retail investors offered 13.77 million shares versus 6.9 million shares offered for the segment, an oversubscription of 1.99 times.
The share of the insured was subscribed a good 6 times, that of the employees 4.4 times.
Also Read: LIC IPO GMP, Subscription, and Review