LIC IPO Subscription Status Day 2: Issue Subscribed 1.03 Times

The LIC IPO is the biggest public offering in the Indian markets. On day 2 of bidding, the IPO has been subscribed 1.03 times. The LIC policyholders have subscribed 3.11 times, while LIC's employees have subscribed to the IPO 2.21 times on May 5.

Additionally, the NSE data showed that the qualified institutional buyers (QIBs) have subscribed 0.40 times, the non-institutional investors have subscribed 0.47 times and the retail segment has been subscribed 0.93 times. The IPO will be available for bidding till Monday, May 9, 2022. The price band of LIC IPO is at Rs. 902-949 per share. LIC is offering a Rs. 60 discount per share for policyholders and Rs. 45 discount for retail investors and LIC employees.

The union government has estimated to accumulate Rs. 21,000 crore at the upper end of the price band. A 3.5% stake of LIC will be liquidated by this IPO. Among these, 10% of the shares have been reserved for LIC policyholders, 0.75% for the LIC employees, and 31.25% have been allotted for the retail investors.