LIC IPO launched Today; Know More
The subscription process of LIC has opened to a positive response.
Insight Bureau: Life Insurance Corporation’s (LIC) IPO on Wednesday opened for subscription for insurer’s policyholders and employees, and investors. The subscription process of LIC has opened to a positive response.
The employee portion has been subscribed a whopping 0.38 times so far, the policyholder portion saw a subscription of 0.81 times. The retail segment has been subscribed 0.24 times.
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The application process will continue till May 9. LIC’s shares will be listed and start trading on the stock exchanges on May 17.
The LIC IPO would be the biggest ever amount raised through an initial public offering in the Indian stock market. The previous such high fund-raising was seen in the IPO of PayTM in 2021 at Rs 18,300 crore and Coal India in 2010 at Rs 15,200 crore.
Of the over 22.13 crore LIC shares on offer, over 9.88 crore shares are reserved for qualified institutional buyers and over 2.96 crore shares for non-institutional buyers.
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