The Life Insurance Corporation’s (LIC) IPO – India’s biggest public offer – was subscribed 2.95 times on the final day of the offer period on Monday. According to data posted on stock exchanges at 7 pm, against 16,20,78,067 shares on offer, 47,83,25,760 bids were received.
The LIC had fixed the price band at ₹902-949 per equity share for the issue. A reservation for eligible employees and policyholders were among the offer. The retail investors and eligible employees will get a discount of ₹45 per equity share, while policyholders will get a discount of ₹60 per share, news agency PTI reported.
Top 10 points on LIC IPO final day:
1. The subscription of 2.95 times on the last day helped the government mobilise about ₹21,000 crore.
2. The Qualified Institutional Buyers (QIBs) category was subscribed 2.83 times.
3. As many as 11.20 crore bids were received for the 3.95 crore shares earmarked for the segment.
4. A total of 8,61,93,060 bids were received for 2,96,48,427 shares reserved for non-institutional investors (NIIs), reflecting a subscription of 2.91 times.
5. Retail individual investors bid for 13.77 crore shares as against 6.9 crore shares on offer for the segment.
6. Policyholders were offered a discount of 60 rupees per share while employees and retail investors were offered 45.
7. The policyholders’ portion was subscribed a little over 6 times, while that for employees was subscribed 4.4 times.
8. So far, the amount mobilised from the IPO of Paytm in 2021 was the largest ever at ₹18,300 crore, followed by Coal India (2010) at nearly ₹15,500 crore and Reliance Power (2008) at ₹11,700 crore.
9. The LIC reduced its IPO size to 3.5 per cent from 5 per cent decided earlier.
10. The country’s largest IPO opened for public subscription on May 4.
(With inputs from PTI, Reuters, ANI)