LIC IPO: Qualified Institutional Buyers’ Quota Fully Subscribed

New Delhi:

Shares reserved for Certified Institutional Consumers (QIB), together with banks and mutual funds within the LIC’s public provide have been subscribed totally on Monday morning, taking the general subscription of the difficulty to a bit over 2 instances.

In opposition to 3,95,31,236 reserved, 4,61,62,185 bids have been obtained, reflecting a subscription of 1.17 instances, based on knowledge posted on inventory exchanges at 12:12 pm.

For key highlights: LIC IPO: Last Day Of Bidding, Issue Oversubscribed By 2 Times So Far 

Non institutional buyers’ portion was subscribed 1.38 instances. Retail particular person buyers bid for 11.89 crore shares as in opposition to 6.9 crore shares put aside for this section — translating into oversubscription of 1.72 instances.

Of the full, the policyholders’ portion was subscribed 5.39 instances, whereas that for workers was subscribed 4 instances.

The general LIC concern was subscribed 2.05 instances. In opposition to 16,20,78,067 shares on provide, 33,19,04,280 bids have been obtained. LIC has fastened the value band at Rs 902-949 per fairness share for the difficulty.

The provide features a reservation for eligible workers and policyholders. The retail buyers and eligible workers will get a reduction of Rs 45 per fairness share, whereas policyholders will get a reduction of Rs 60 per share.

With the general public provide which closes later within the day, the federal government goals to generate about Rs 21,000 crore by diluting 3.5 per cent stake within the insurance coverage behemoth.

LIC decreased its IPO dimension to three.5 per cent from 5 per cent determined earlier as a result of prevailing uneven market circumstances. Even after the decreased dimension, LIC IPO goes to be the most important preliminary public providing ever within the nation.

To date, the quantity mobilised from the IPO of Paytm in 2021 was the most important ever at Rs 18,300 crore, adopted by Coal India (2010) at almost Rs 15,500 crore and Reliance Energy (2008) at Rs 11,700 crore. PTI DP ANU ANU