Explorer

LIC IPO Sees 67% Issue Booked On Day 1. Employee, Policyholder Segments Fully Subscribed

LIC IPO: On the first day of bidding, the policyholders lead initial bout of buying in state-run insurer’s IPO and have subscribed 1.99 times the portion reserved for them

New Delhi: The initial public offering (IPO) of Life Insurance Corporation (LIC), which was opened for subscription on Wednesday (May 4), witnessed an overwhelming response with LIC IPO is subscribed 67 per cent on first day of bidding, according to news reports.

During the day, the LIC policyholders lead initial bout of buying in the state-run insurer’s IPO. They have subscribed 1.99 times the portion reserved for them, whereas the LIC employees’ reserved portion has been subscribed 117 per cent.

The retail investors’ portion has been subscribed 60 per cent, non-institutional investors have subscribed 27 per cent of their portion, while qualified institutional buyers bought 33 per cent of allotted quota of 3.95 crore shares.

ALSO READ | Stock Market: Sensex Plunges 1,307 Points, Nifty Ends Below 16,700 On RBI's Sudden 40 Bps Rate Hike

Off the 16.20 crore shares on offer, around 10.86 crore equity shares were snapped on the first day of bidding, as per the 7:00 pm data available on the bourses. 

On Monday, LIC raised Rs 5,627 crore at the upper end of the price band from anchor investors, which was led primarily by domestic institutions. The portion reserved for anchor investors (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share.

The IPO, which was launched on Wednesday, will remain open till May 9 (Monday).

According to a notification from the National Stock Exchange, LIC IPO will take subscriptions even on Saturday.

The central government is looking to garner Rs 21,000 crore from the LIC stake sale by diluting 3.5 per cent in the insurance company.

Previously, the government wanted to divest 5 per cent stake in LIC, however, because of ongoing conflict between Russia and Ukraine, coupled with volatile market conditions and rising inflation rates had compelled the government to postponed the IPO till May.

View More
Advertisement

IPL Auction 2025

Most Expensive Players In The Squad
Virat Kohli
₹21 CR
Josh Hazlewood
₹12.50 CR
Phil Salt
₹11.50 CR
View all
Most Expensive Players In The Squad
Rishabh Pant
₹27 CR
Nicholas Pooran
₹21 CR
Ravi Bishnoi
₹11 CR
View all
Most Expensive Players In The Squad
Jasprit Bumrah
₹18 CR
Suryakumar Yadav
₹16.35 CR
Hardik Pandya
₹16.35 CR
View all
Most Expensive Players In The Squad
Heinrich Klaasen
₹23 CR
Pat Cummins
₹18 CR
Abhishek Sharma
₹14 CR
View all
Most Expensive Players In The Squad
Ruturaj Gaikwad
₹18 CR
Ravindra Jadeja
₹18 CR
Matheesha Pathirana
₹13 CR
View all
Most Expensive Players In The Squad
Shreyas Iyer
₹26.75 CR
Arshdeep Singh
₹18 CR
Yuzvendra Chahal
₹18 CR
View all
Most Expensive Players In The Squad
Sanju Samson
₹18 CR
Yashaswi Jaiswal
₹18 CR
Riyan Parag
₹14 CR
View all
Most Expensive Players In The Squad
Venkatesh Iyer
₹23.75 CR
Rinku Singh
₹13 CR
Varun Chakaravarthy
₹12 CR
View all
Most Expensive Players In The Squad
Rashid Khan
₹18 CR
Shubman Gill
₹16.50 CR
Jos Buttler
₹15.75 CR
View all
Most Expensive Players In The Squad
Axar Patel
₹16.50 CR
KL Rahul
₹14 CR
Kuldeep Yadav
₹13.25 CR
View all
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

As Race For Maharashtra CM Post Heats Up, Eknath Shinde Upset Over BJP's 'Claim' For Top Post: Sources
As Race For Maharashtra CM Post Heats Up, Eknath Shinde Upset Over BJP's 'Claim' For Top Post: Sources
Schools In Delhi-NCR To Go In Hybrid Mode After Supreme Court Directive On Air Pollution
Schools In Delhi-NCR To Go In Hybrid Mode After Supreme Court Directive On Air Pollution
PAN 2.0 Announced: Do You Need To Change PAN Number? Will It Be Free? All Your FAQs Answered
PAN 2.0 Announced: Do You Need To Change PAN Number? Will It Be Free? All Your FAQs Answered
Rashmi Shukla Reappointed As Maharashtra DGP After Mahayuti Win
Rashmi Shukla Reappointed As Maharashtra DGP After Mahayuti Win
Advertisement
ABP Premium

Videos

FIR Filed Against Sambhal MP Ziaur Rahman, Statement Released Amidst ControversyFIR Filed Against Sambhal MP Ziaur Rahman and Local MLA's Son in Controversial CaseSambhal Violence Sparks Political Firestorm, Congress MP Imran Masood's Strong Remarks | ABP NewsBreaking News: SP Leader Ram Gopal Yadav Reacts to Sambhal Violence | ABP News

Photo Gallery

Embed widget