LIC IPO LIVE Updates: Retail portion fully subscribed on Day 3; overall issue garners 1.09x bids – The Economic Times
LIC IPO Subscription Status LIVE Updates: LIC’s mega Rs 20,557-crore initial public offering opened for its third day of subscription. The issue sailed through on Thursday, garnering bids for 16.68 crore shares against the 16.21 crore on offer. The issue will remain open till Monday, May 9. It will remain open for investors on Saturday and Sunday as well.
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The LIC IPO is a milestone event for Indian capital markets and as expected we have received a very strong response from the investing community, and in particular from new investors in the market. On Paytm Money, 1 out of every 3 LIC IPO investors was a first time investor.
– Varun Sridhar, CEO of Paytm Money
LIC IPO’s retail portion fully subscribed
The retail portion of LIC IPO sailed through on Day 3 of the bidding process, garnering 6,88,59,435 bids against 6,91,79,663 shares on offer. Overall, the IPO was subscribed 1.09 times.
LIC IPO subscription status: Issue subscribed 1.06 times; retail portion set to sail through
LIC IPO kicks off for subscription on Day 3
All eyes on retail portion as it looks set to sail through
Rupee gets LIC cover to weather Fed hike impact
The rupee has outperformed most Asian currencies as the initial public offering (IPO) of the Life Insurance Corporation (LIC) of India spurred an inflow of dollars at a time when regional peers such as the yen and yuan plumbed multi-year lows amid a monetary tightening in the US. Overseas investors pumped in an estimated $1.5 billion for the LIC IPO, a government official told ET on condition of anonymity.
“The market has received the LIC IPO well, ignoring macro adversities,” said Ashhish Vaidya, managing director, DBS Bank India. “This in turn has protected the rupee against global headwinds, with India still showing resilience.”
LIC IPO subscription details on Thursday
The insurer’s policyholders and employees were the top bidders in the issue. The portion set aside for LIC’s policyholders was subscribed three times, while its employees’ category was subscribed 3.11 times. Retail investors’ portion was subscribed 0.93 times, while non-institutional investor category, which included high net worth investors (HNIs), was subscribed 0.46 times. Qualified institutional buyers’ portion saw a subscription of 0.47 times.
LIC’s IPO fully subscribed on Day 2
The Rs 20,557-crore initial public offering of Life Insurance Corporation (LIC) was fully subscribed on Thursday – the second day of the offer. The country’s largest-ever IPO received bids for 16.68 crore shares against the 16.21 crore on offer, according to subscription details on the bourses at 8 PM.
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