Mumbai: The blockbuster initial public offering (IPO) of the country’s largest life insurer Life Insurance Corporation of India (LIC) which opened for subscription on Wednesday, May 4, 2022, was subscribed around 67 per cent at the end of the first day. It will be available for public subscription till Monday, May 9, 2022. The price band of LIC IPO is fixed at Rs 902-949 per share and the company is offering a discount of Rs 60 per share for its policyholders and Rs 45 apiece for retail investors and LIC employees.
The LIC issue was subscribed 0.67 times at the end of Day 1, data available on the NSE showed. The policyholders segment was subscribed 1.99 times while the employees portion was subscribed 1.17 times, the data showed. Apart from these, the qualified institutional buyers (QIBs) was subscribed 0.33 times, the non institutional investors was subscribed 0.27 times and the retail segment was subscribed 0.60 times, the data showed.
Investors who wish to subscribe to LIC IPO can bid in a lot of 15 equity shares and multiples thereafter. At the upper price band, they will be shelling out Rs 14,235 (excluding discounts) to get a single lot of LIC. The shares will be listed on both BSE as well as the National Stock Exchange (NSE).
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