LIC IPO Day 4: NII segment fully subscribed; overall issue oversubscribed
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The Life Insurance Corporation of India's initial public offering (IPO) on Saturday saw full subscription of its non-institutional investor segment on Day 4 of bidding.
The issue opened for subscription on May 4 and continues to see strong interest from all investor categories.
The portion reserved for eligible policy holders was subscribed 4.67 times, reservation for eligible employees was subscribed 3.54 times, retail category was subscribed 1.46 times, the non-institutional category witnessed subscription of 1.08 times and the qualified institutional buyers category saw subscription of 0.67 times.
The long-awaited IPO of LIC will remain open for subscription till May 9.
The government has brought down the issue size from 5 per cent to 3.5 per cent.
It will be a landmark public issue in the history of the Indian capital market and is poised to be the country's biggest IPO till date.
The IPO values LIC at Rs 6 lakh crore. The issue offer of the LIC will be in the price band of Rs 902 to Rs 949.
Also, the policyholders will be offered a Rs 60 discount, while for retail investors, the discount will be Rs 45.
