LIC IPO Subscription Status Live: Policyholders portion booked 3.8 times, retail category sees 1.18% bidding; overall subscription at 1.3 times
LIC IPO Subscription Status Live: Initial Public offer (IPO) of Life Insurnace Corporation (LIC) is open for subscription. Indias largest IPO, LIC, was subscribed 1.03 times at the end of Day on Thursday
LIC IPO Subscription Status Live: Initial Public offer (IPO) of Life Insurnace Corporation (LIC) is open for subscription. India's largest IPO, LIC, was subscribed 1.03 times at the end of Day on Thursday. Against the reserved quota of 16,20,78,067 shares, the issue was oversubscribed on Day 2 as it received bids for 16,68,60,765 equity shares. Portion reserved for policyholders was subscribed 3.11 times, employees and retail categories saw 2.22 times and 0.93 times bidding on Day 2.
The LIC IPO that opened on May 4 will close on May 9, 2022. Interestingly, the issue will remain open for LIC IPO subscription even on Saturday, May 7. The price band for this IPO has been fixed at Rs 902-949 per equity share. The retail investors and eligible employees will get a discount of Rs 45 per equity share and policyholders will get a discount of Rs 60 per share.
The government plans to raise Rs 20,557 crore at the upper end of price band by diluting through 3.5 per cent stake in the public insurer.
LIC IPO is the biggest ever in Indian capital market, surpassing Rs 18,300-crore Paytm and rs 15,500 crore and Coal India.
As LIC IPO subscription enters Day 3, we bring you all live updates as the day progresses. Watch out for this space.
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LIC IPO was subscribed 1.31 times as the issue received bids for 21,26,43,660 shares against 16,20,78,067 reserved shares. Retail category, policyholder, employees, were subscribed 1.18 times, 3.85 times and 2.93 times. NIIs and QIBs portions booked 66% and 55% respectively.
For LIC employees, SBI is offering a maximum IPO loan amount of Rs 20 lakh at 7.10% interest rate. The loan amount will be credited directly in savings account of customers.
State Bank of India has also announced a special loan offer for LIC employees. As per the offer, SBI is releasing a loan of up to Rs 2 lakh on an immediate basis at the 9.58 interest rate. It is offering a loan of up to Rs 20 lakh for LIC employees
All branches of State Bank of India will remain open between 10 am to 4pm to facilitate LIC IPO bidding.
As the market fell by more than 1.5% on Friday, what should investors do in LIC IPO amid massive correction in the market? Zee Business Managing recommends this for investors
After policyholder and employees' portions, Retail investor category was also fully subscribed on Day as LIC IPO continues to see good response. Overall subscription stood at 1.09%
LIC IPO received massive response as the issue was fully subscribed on Day 2. Against 16,20,78,067 shares, the received bids for 16,68,60,765 equity shares on Thursday.
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