The LIC (Life Insurance Corporation of India) IPO has been the biggest public offering in the market, till date. Today, May 9 was the last day for bidding, and the response from the investors was healthy. The IPO has been subscribed 2.95 times and received bids for 47.83 crore equity shares against the IPO size of 16.2 crore equity shares.
The allotted portion which was set for the policyholders has been subscribed 6.11 times, while employees' bids were subscribed 4.39 times the allotted quota. Significantly, the subscription for retail investors was also high at 1.99 times. The portion for qualified institutional buyers (QIB) has been subscribed 2.83 times, while that of non-institutional investors was subscribed 2.91 times.
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