LIC IPO Subscription on last day: Issue subscribed 2.95 times; retail portion booked nearly 2 times, policy holder over 6 times
LIC IPO Subscription Status: Initial Public Offering of Life Insurance Corporation of Indias (LIC) was subscribed 1.79 times on Sunday on Day 5
LIC IPO latest news: Initial Public Offering of Life Insurance Corporation of India's (LIC) was subscribed 1.79 times on Sunday on Day 5. The issue closes today after remaining open on the weekend. Except for the portion reserved for qualified institutional buyers (QIBs), the issue was oversubscribed across all categories till May 8, showed data with the exchanges. As per the data, the investors bid for 29.08 crore shares till Sunday, against the offer size of 16.2 crore shares.
Policyholders portion was booked 5.04 times, the quota reserved for employees saw bidding for 3.79 times and retail investors bid for 1.59 times. Similarly, NIIs portion was booked 1.24 times and QIBs portion, which saw bidding of 67% against its quota of shares, was yet to be fully subscribed.
Earlier, the government fixed the price band of LIC IPO 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 aims 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.
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LIC IPO: The public issue of the Life Insurance Corporation of India ended on Monday. The issue was subscribed 2.95 times. The state-run insures received 47,83,67,010 share bids against 16,20,78,067 shares availabe for subscription. The Policy holders subscribed it over 6 times. In the employee category, the issue was subscribed 4.4 times. As for Retail Individual Investors (RIIs), Non-institutional Investors and Qualified Institutional Buyers (QIBs), the share bids received were 1.99 times, 2.91 times and 2.83 times respectively. The data was sourced brom BSE website and was last updated at 7 pm.
LIC IPO latest subscription details. Overall subscription nearing 3x, policyholders quota booked almost 6 times, retail subscription at 1.95 times.
LIC IPO Ki Pathshala Part 2: UPI limit has increased to 5 lakhs, so should I apply for 5 lakhs? Get all answers from Anil Singhvi | FAQ | Anil Singhvi
LIC IPO interesting facts:
LIC was formed by merging and nationalising 245 private life insurance companies on September 1, 1956, with an initial capital of Rs 5 crore. Its product portfolio comprises 32 individual plans (16 participating and 16 non-participating) and seven individual optional rider benefits. The insurer's group product portfolio comprises 11 group products.
LIC IPO continues to attract investors despite falling market. The issue has been subscribed 2.5 times so far on the last day. NIIs and QIBs quota were too subscribed over 2 times.
LIC IPO Subscription details below at 2.21 PM
LIC reduced its IPO size to 3.5 per cent from 5 per cent decided earlier due to the prevailing choppy market conditions. Even after the reduced size of about Rs 20,557 crore, LIC IPO is going to be the biggest initial public offering ever in the country.
The market continues to correct amid volatility. What to do with LIC IPO in falling market? Should you apply or skip? Here is what Anil Singhvi suggests investors should do with issue of India's largest IPO.
Full Details: What to do in LIC IPO? How to mange risks? Anil Singhvi explains
5 biggest IPOs before LIC and worst performers
Reliance Power, which was the third largest IPO after Paytm and Coal India before LIC IPO launch, is the worst performer of all in terms of correction on issue price. Reliance Power has corrected 96.8% on its issue price as on April 2. Here is how other biggest IPOs have performed
Company Issue Price (cr) Performance
Paytm `2150 -72%
Coal India `245 -23.7%
Reliance Power `450 -96.8%
General Insurance `912 -85.4%
SBI Card `755 +8.6%
Note: The data is as on May 4
Employees were closely following LIC policyholders in subscription. The category was subscribed nearly 4 times around, while retail portion was booked 1.7 times so far on the last day.
LIC IPO was booked twice the size of its allotted quota on the last day so far. Policyholders continue to dominate the subscription with 5.3% subscription.
The portion reserved for qualified institutional buyers (QIBs) was finally oversubscribed on the last day of opening of LIC IPO. Overall, issue was booked 1.93 times around 10.20 am.
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