LIC IPO: There is tremendous enthusiasm from retail investors and institutional investors regarding LIC’s IPO. Big news has come about LIC IPO till 12 noon. LIC’s policyholders’ share in LIC IPO is fully subscribed till 12.15 PM.
Big Updates of LIC IPO
In LIC IPO by 12.24 pm on the first day, 30% of the IPO portion has been subscribed. As of 12:24 pm, the share of policyholders in the IPO has been subscribed 1.5 times. The share of LIC employees is 51 percent subscribed. Retail investors’ share is subscribed up to 33 per cent.
Non-institutional investors have subscribed 6 per cent and qualified institutional buyers have bought 4110 shares till date and have a reserve quota of 3.95 crore shares. is.
More than 22 crore shares will be sold
Under the IPO, the government is selling its 22,13,74,920 shares in the company. This IPO is in the form of Offer for Sale (OFS) and through this the government is going to sell its 3.5 percent stake in LIC by selling 22.13 crore shares. Through LIC’s IPO, the government will sell its 3.5 percent stake from today.
LIC said that the IPO received full subscription of Rs 5,620 crore from anchor investors on Monday. LIC has raised Rs 5,627 crore from anchor investors in which there is a majority of domestic companies. 5.92 crore shares were reserved for anchor investors at the rate of Rs 949 per equity share.