LIC IPO Subscription Status: According to data available with the exchanges, LIC IPO, India’s largest initial public offering, was subscribed 2.95 times on the final day of bidding on Monday. Policyholders portion was booked 5.04 times, the quota reserved for employees saw bidding for 3.79 times and retail investors bid for 1.59 times. Similarly, NIIs portion was booked 1.24 times and QIBs portion, which saw bidding of 67% against its quota of shares, was yet to be fully subscribed.
Despite the turmoil in financial markets, the insurance behemoth’s initial public offering (IPO) received an overwhelming response, with the issue nearly three times oversubscribed, led by bids from LIC’s over 250 million policyholders for slightly more than six times the shares on offer.
Below is the data available from exchanges side regarding the LIC IPO subscription.
Read: Complete LIC IPO Details
On The Final day Of LIC IPO Subscription Data (09 May 2022)
- Qualified Institutional Buyers (QIBs) subscribed 2.83 times
- Non-Institutional Investors subscribed 2.91 times
- Retail Individual Investors (RIIs) subscribed 1.99 times
- Employees subscribed 4.4 times
- Policyholders subscribed 6.12 times
- Total subscribed 2.95 times
LIC IPO Subscription Status Consolidated Data
|SR. NO.||CATEGORY||NO OF SHARES OFFERED/ RESERVED||NO OF SHARES BID FOR||NO OF TIMES OF TOTAL MEANT FOR THE CATEGORY|
|1||Qualified Institutional Buyers(QIBs)||3,95,31,236||11,20,68,960||2.83|
|1(a)||Foreign Institutional Investors(FIIs)||–||2,41,55,730||–|
|1(b)||Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)||–||4,93,81,500||–|
|2||Non Institutional Investors||2,96,48,427||8,61,93,060||2.91|
|2(b)||Individuals(Other than RIIs)||–||5,08,74,210||–|
|3||Retail Individual Investors(RIIs)||6,91,79,663||13,77,84,060||1.99|
Employees placed orders for about 4.4 times the number of shares available, while LIC insurance policyholders placed orders for more than 6.12 times the number of shares reserved for them. Investors bid for 47.8 crore shares out of a total of 16.2 crore available. Bids were six times oversubscribed among LIC’s over 250 million policyholders.
According to exchange data, the IPO was booked 2.95 times as of 07:00 p.m. on Monday, with investors bidding for 47.76 crore shares versus 16.20 crore shares on offer. The government will raise a record 21,000 crore, or one-third of its original target, by selling a 3.5% stake in the country’s largest insurer.