Qualified Institutional Buyers (QIBs) - 0.33
Non Institutional Investors - 0.25
Retail Individual Investors (RIIs) - 0.54
Employee Reserved - 0.99
Policyholder Reserved - 1.80
The initial public offering (IPO) of Life Insurance Corporation of India opened for subscription today. The public issue will close on May 9. The insurance behemoth stated that it has garnered around ₹ 5,627 crore from anchor investors ahead of the IPO.
The LIC IPO was subscribed 67 per cent at 7 pm, when bidding closed for the first day. (Also Read: LIC IPO: Overwhelming Demand On Day 1, With Over 60% Bids And Counting).
The LIC IPO will take subscriptions even on Saturday (May 7), an unusual move aimed at attracting more investors. The shares would get listed at the stock exchanges on May 17.
The country's largest insurer reduced its IPO size to 3.5 per cent from 5 per cent decided earlier due to the prevailing market condition. LIC was formed by merging and nationalising 245 private life insurance companies on September 1, 1956, with an initial capital of ₹ 5 crore.