LIC IPO first day first show: Positive start for India's biggest IPO | Check Subscription status
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Loading... - Geetika Rai
- 04 May 2022
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India's biggest initial public offering is finally here. Life Insurance Corporation's (LIC) IPO on Wednesday opened for subscription for insurer's policyholders and employees, and investors. The subscription process of LIC has opened to a positive response.
The employee portion has been subscribed a whopping 0.38 times so far, the policyholder portion saw a subscription of 0.81 times. The retail segment has been subscribed 0.24 times.
LIC IPO SUBSCRIPTION DATE
The LIC IPO opened for subscription on Wednesday and the application process will continue till May 9.
LIC's shares will be listed and start trading on the stock exchanges on May 17.
LIC IPO DETAILS
The government is selling 22,13,74,920 shares in LIC at a price band of Rs 902-949 a share. The government aims to raise about Rs 21,000 crore.
Ahead of the subscription period, LIC's IPO saw 'excellent' response as the anchor investor portion was subscribed fully, garnering around Rs 5,620 crore.
The LIC IPO would be the biggest ever amount raised through an initial public offering in the Indian stock market. The previous such high fund-raising was seen in the IPO of PayTM in 2021 at Rs 18,300 crore and Coal India in 2010 at Rs 15,200 crore.
Of the over 22.13 crore LIC shares on offer, over 9.88 crore shares are reserved for qualified institutional buyers and over 2.96 crore shares for non-institutional buyers.
Up to 15,81,249 shares and 2,21,37,492 shares are reserved for employees and policyholders. Read More...
