LIC IPO Day 2: Issue fully subscribed on day 2, got great response from small investors

LIC issue fully subscribed on the second day

The issue will be open from May 4 to May 9. The price band of the issue has been kept between Rs 902 to 949. In the retail issue, investors will get a discount of Rs 45 and policy holders will get a discount of Rs 60. Stock will be listed on May 17

The country’s biggest IPO issue was fully subscribed on the second day. LIC (LIC) was opened on May 4 and investors can apply in it till May 9. The size of the issue is around Rs 21 thousand crore. In such a situation, the issue on the second day itself (LIC IPO) being fully subscribed shows people’s trust in LIC. Small investors are actively participating in the issue. At present, the retail portion of the issue is not fully filled but there is every possibility that the retail portion will be opened in the opening hours on Friday (Retail Investor) will also be filled completely. Big investors are gradually increasing their stake, although in IPO it is seen that big investors take full time before applying. Now the eyes of the market are on how many times the entire issue is going to be subscribed.

Completely filled LIC IPO

As per the information given on BSE, the issue has been subscribed 1.02 times. Bids have been received for 16,47,28,020 shares against 16,20,78,067 shares put up for offer in the issue. Policyholder’s quota has been filled more than 3 times. Bids have been received for 6,79,05,090 shares as against 2,21,37,492 shares offered for the segment. 15,81,249 shares have been kept in reserve for the employees. Whereas the bid has been received for 2.2 times more shares than this. The retail segment is 92 percent full so far. NII’s share is 0.47 percent and QIB’s share is 0.40 percent.

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Highlights of IPO

LIC’s IPO is the biggest issue of the country so far, in which the government is going to raise Rs 20557 crore by selling its 3.5 percent stake. The issue will remain open till May 9. The special thing is that investors will be able to give applications on Saturday as well. The price band of the issue has been kept between Rs 902 to 949. Based on the upper levels of the price band, the valuation of LIC is Rs 6 lakh crore. LIC employees and policy holders are being given a discount in the IPO. Retail investors will get a discount of Rs 45 and policy holders Rs 60. The allotment of stocks in the IPO will take place on May 12, while the refund process will start from May 13. From May 16, the shares will start coming in the demat account of the investors. The stock will be listed on May 17. At the upper levels of the price band, investors can bid for at least 15 stocks after which the bids will be in multiples of 15. The issue has a quota of 50 percent for QIBs, 35 percent for retail investors and 15 percent for NIBs. Most of the brokerage houses in the country have advised to subscribe to the issue.