LIC IPO: QIB portion fully subscribed on last day | Business – Times of India

NEW DELHI: Shares reserved for Certified Institutional Patrons (QIB), together with banks and mutual funds within the LIC‘s public provide had been subscribed absolutely on Monday morning, taking the general subscription of the problem to a bit over 2 occasions. In opposition to 3,95,31,236 reserved, 4,61,62,185 bids had been acquired, reflecting a subscription of 1.17 occasions, in line with information posted on inventory exchanges at 12:12 pm.
Non institutional buyers’ portion was subscribed 1.38 occasions. Retail particular person buyers bid for 11.89 crore shares as in opposition to 6.9 crore shares put aside for this phase — translating into oversubscription of 1.72 occasions.
Of the overall, the policyholders’ portion was subscribed 5.39 occasions, whereas that for workers was subscribed 4 occasions.
The general LIC issue was subscribed 2.05 occasions. In opposition to 16,20,78,067 shares on provide, 33,19,04,280 bids had been acquired. LIC has mounted the value band at Rs 902-949 per fairness share for the problem.
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 diminished its IPO measurement to three.5 per cent from 5 per cent determined earlier because of the prevailing uneven market circumstances. Even after the diminished measurement, LIC IPO goes to be the largest preliminary public providing ever within the nation.
Up to now, the quantity mobilised from the IPO of Paytm in 2021 was the biggest 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.

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