LIC IPO: Policyholders continue to tap LIC IPO with the share reserved for this category, which is now oversubscribed by more than 5 times as on Sunday. The portion reserved for employees, retail investors and HNIs also picked up on the fifth day. However, the demand for QIBs remained largely silent.
The data on NSE showed that cumulatively LIC IPO Bids were received for 29,08,27,860 equity shares against the proposed size of 16,20,78,067 equity shares – 1.79 times subscription.
The share reserved for policyholders was oversubscribed 5.04 times with bids of 11,16,32,100 equity shares as against 2,21,37,492 equity shares reserved.
The Employees’ category was subscribed 3.79 times with cumulative bids of 59,98,860 equity shares as against the reserve share of 15,81,249 equity shares.
The Retail Individual Investors (RII) category received cumulative bids of 10,99,19,370 equity shares against the reserve share of 6,91,79,663 equity shares – 1.59 times subscription.
Non-institutional investors aka HNIs also gained momentum with the category subscribing 1.24 times with cumulative bids of 3,67,73,040 equity shares against the reserve share of 2,96,48,427 equity shares.
However, the Qualified Institutional Buyers (QIB) category witnessed weak demand with cumulative bids of 2,65,04,490 equity shares – a membership of only 67% against the reserve share of 3,95,31,236 equity shares.
Cumulative bids include demand on both BSE and NSE. QIBs include foreign institutional investors, domestic financial institutions (banks, financial institutions, insurance companies), mutual funds and others. NIIs include corporate and other high net worth investors. RII includes individual investors.
LIC IPO opened on 4th May and will be available for subscription till 9th May. The price band of IPO is from 902 949 per equity share.
Almost 21,000 crore LIC IPO is the biggest ever IPO in the market. Post the IPO, the life insurance giant will be listed on BSE and NSE.