The net issue of the mega ₹21,000-crore IPO of Life Insurance Corporation (LIC) was subscribed 2.95 times as of the last day, receiving bids for 47.83 crore equity shares against the IPO size of 16.2 crore.
While the portion set aside for policyholders was subscribed 6.11 times, employees bid 4.39 times the allotted quota and retail investors 1.99 times, and the reserved portion of qualified institutional buyers was booked 2.83 times and that of non-institutional investors’ 2.91 times.
The Centre, through this mega IPO — which was open from May 4 to 9 — has offloaded 3.5 per cent shareholding in the insurance behemoth. It maybe recalled that the anchor book — which was opened on May 2 – saw bids of over ₹7,000 crore against the anchor book portion of ₹5,360 crore.