LIC IPO Live Updates:Issue subscribed 95 percent
The initial public offering of country’s largest life insurance company Life Insurance Corporation of India has subscribed 95 percent, receiving bids for 15.40 crore equity shares against offer size of 16.2 crore equity shares.
The portion set aside for policyholders portion has been subscribed 2.85 times, staff 2 times, and retail investors subscribed 86 percent, while QIBs bid for 40 percent shares of their allotted quota and NII lapped up 42 percent of their portion.
LIC Business
LIC IPO Live Updates:Issue subscribed 93 percent
The initial public offering of country’s largest life insurance company Life Insurance Corporation of India has subscribed 93 percent, receiving bids for 15.01 crore equity shares against offer size of 16.2 crore equity shares.
The portion set aside for policyholders portion has been subscribed 2.83 times, staff 1.97 times, and retail investors subscribed 85 percent, while QIBs bid for 35 percent shares of their allotted quota and NII lapped up 39 percent of their portion.
Read These Key Ratios Before Subscribing LIC IPO
Read These Key Ratios Before Subscribing LIC IPO
ASBA Designated Branches To remain open on Sunday for LIC IPO
The Government of India, in order to facilitate bidding for LIC IPO, has requested that all bank branches designated to process ASBA (Application Supported by Blocked Amount) applications may be kept open for public on May 8, 2022 (Sunday). The matter has been examined and it has been decided that banks may keep all their ASBA designated branches open on May 8, 2022 (Sunday) for the above purpose.
LIC IPO Live Updates:Issue subscribed 92 percent
The initial public offering of country’s largest life insurance company Life Insurance Corporation of India has subscribed 92 percent, receiving bids for 14.93 crore equity shares against offer size of 16.2 crore equity shares.
The portion set aside for policyholders portion has been subscribed 2.81 times, staff 1.96 times, and retail investors subscribed 85 percent, while QIBs bid for 35 percent shares of their allotted quota and NII lapped up 39 percent of their portion.
LIC IPO subscription remains open on Sunday as well
Life Insurance Corp India’s initial public offering will open for subscription even on Sunday, a National Stock Exchange notification said.
Earlier exchanges informed that the issue will open for Saturday also. The IPO which kicked off on 4 May will open until 9 May, NSE circular said.
LIC IPO Live Updates:Issue subscribed 91 percent
The initial public offering of country’s largest life insurance company Life Insurance Corporation of India has subscribed 91 percent, receiving bids for 14.73 crore equity shares against offer size of 16.2 crore equity shares.
The portion set aside for policyholders portion has been subscribed 2.79 times, staff 1.93 times, and retail investors subscribed 84 percent, while QIBs bid for 34 percent shares of their allotted quota and NII lapped up 38 percent of their portion.
LIC’s Post Issue Shareholding
LIC’s Key Business Strategies
LIC intends to capitalize on the growth opportunities in the Indian life insurance sector
Country’s largest life insurer wants to further diversify the product mix by increasing the contribution of the non-participating portfolio
The state-owned entity intends to reinforce omni-channel distribution network and increase its productivity
The company wants to continue leveraging technology to aid growth, drive operating efficiencies and provide digital support
LIC intends to maximize value creation through various commercial and financial levers as well as changes to Corporation’s surplus distribution policy
LIC IPO Live Updates:Issue subscribed 90 percent
The initial public offering of country’s largest life insurance company Life Insurance Corporation of India has subscribed 90 percent, receiving bids for 14.51 crore equity shares against offer size of 16.2 crore equity shares.
The portion set aside for policyholders portion has been subscribed 2.75 times, staff 1.89 times, and retail investors subscribed 83 percent, while QIBs bid for 34 percent shares of their allotted quota and NII lapped up 37 percent of their portion.
