Retail individual investors bid for 9.57 crore shares as against 6.9 crore set aside for this segment, translating into an oversubscription of 1.44 times
Life Insurance Corporations of India's (LIC) share sale via initial public offering was witnessing good response from investors as the IPO was subscribed 30 per cent by 12:20 pm, data from BSE showed.
The government is selling over 22.13 crore shares in LIC at a price band of Rs 902-949 a piece in the initial public offering, which opens on May 4 and closes on May 9
The Retail Individual Investor (RII) category garnered over 7.2 crore bid, as against 6.9 crore shares set aside for this segment
Anchor Investors' (AIs) portion (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share, the insurer said in an early morning filing to exchanges
Life Insurance Corporation (LIC) would offer a Rs 60 discount for policyholders and Rs 40 for retail investors and employees
Portion set aside for retail individual investors was subscribed 90 per cent with quota reserved for policyholders getting subscribed 3.02 times and the quota set aside for employees was booked 2.14 times
The total commitment from over 100 global and domestic investors is more than Rs 6,300 crore allotment size to anchor investors. However, a formal anchor book allotment is yet to begin
The sale of 5 per cent stake or 31.6 crore shares in the country's largest insurer was originally planned for in March, but was postponed in view of the...