LIC’s IPO was subscribed 1.65 times on the fourth day of subscription
New Delhi:
The Initial Public Offering (IPO) of Life Insurance Corporation (LIC) was subscribed 1.65 times on the fourth day of subscription on Saturday, May 7, 2022.
The public issue was subscribed 1.45 times in the retail category, 1.08 times in the non-institutional investor category, while the employees’ share was subscribed up to 3.54 times. The share of policyholders was subscribed 4.65 times, while the share of Qualified Institutional Buyers (QIBs) was subscribed only 0.67 times.
The IPO is open for subscription tomorrow i.e. Sunday (May 8, 2022). The All India Bank Officers’ Confederation (AIBOC), however, on Sunday objected to the opening of all applications supported by Blocked Amount (ASBA) designated branches, saying the Reserve Bank of India’s (RBI) decision serves no purpose as most applications are digital. are duly entered.
Most of the branches are ASBAs designated with rapid digitization.
The Government of India will sell 3.5 per cent or 22.13 crore equity shares through an offer for sale of LIC. More than Rs 5,600 crore has already been raised from Anchor Book as on 2nd May.
The IPO was open for subscription to retail and other investors on May 4 and will close on May 9.