LIC IPO: Allotment Scheduled On May 12: Here's How Applicants Can Check Online

LIC IPO, the biggest ever in India, witnessed 2.95 times more demand than the shares on offer

The LIC IPO saw 73.3 lakh applications from retail investors, the highest ever for a domestic issue, topping Reliance Power’s 2008 record of 48 lakhs. Image: Getty

Source : Getty

New Delhi: The country’s largest insurer Life Insurance Corporation of India’s (LIC’s) initial public offering (IPO), the biggest ever in India, witnessed 2.95 times more demand than the shares on offer. The final day of the bidding was on Monday.

The LIC IPO has generated bids worth Rs 43,933 crore, according to the BSE data.

The process of subscription was mainly driven by domestic investors, of which retail investors took the lead. The allotment of the IPO is scheduled for Thursday (May 12).

Applicants who want to know about their allotment status can check online.

How to check LIC allotment online on the BSE website

• The applicant has to visit the official website of BSE
• Select the menu section in LIC IPO
• Enter the application number allotted for LIC IPO
• After that the applicant has to enter PAN card number
• Click at 'I'm not a robot' and confirm the captcha
• Finally, the applicant has to click once more at the ‘Submit’ button and then the person can be able to view the LIC IPO allotment status

The IPO saw 73.3 lakh applications from retail investors, the highest ever for a domestic issue, topping Reliance Power’s 2008 record of 48 lakhs.

However, the issue got a tepid response from foreign portfolio investors because of rising bond yields and volatile equity market conditions.

The LIC policyholders’ portion saw the maximum subscription at over six times, generating bids of over Rs 12,000 crore, while the employees’ portion was subscribed 4.4 times, and the retail individual investors’ part witnessed two times subscription with bids worth over Rs 12,450 crore.

The data from the BSE stated that LIC has received bids for 478,367,010 shares against the offered 162,078,067 shares (excluding those offered to anchor investors).