New Delhi,May 06,2022: The retail portion of LIC IPO, the country’s biggest-ever, was subscribed fully in the first hour of bidding on day three on Friday.
The Retail Individual Investor (RII) category garnered over 7.2 crore bid, as against 6.9 crore shares set aside for this segment, as per the data on stock exchanges at 11:36 am on Friday.
The segment was thus fully subscribed.
However, the Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) portion has been receiving a tepid response. Non-institutional investors’ portion was subscribed 50%, while QIBs’ portion is still lower at 40%.
The policyholder portion was subscribed over three times, while the reserved employees’ segment was subscribed nearly two and half times.
Overall, the IPO is more than fully subscribed as it has received 17,98,42,980 bids, as against 16,20,78,067 shares on sale.
The LIC initial public offering (IPO) will close on May 9.
The government aims to generate about ₹21,000 crore by diluting its 3.5% stake in the insurance behemoth.
