LIC IPO Day 4: LIC's issue subscribed 1.5 times, received more than 24 crore bids from investors
Investors are excited about the country's biggest LIC IPO. Saturday was the fourth day of bidding for this and so far it has got 1.5 times subscriptions. Let us inform here that 100% subscribed was done on the second day of the issue itself. Apart from this, the retail portion was also fully booked on the third day on Friday.
LIC's IPO will be open for subscription till May 9. Explain that the government is selling 3.5 percent stake in LIC, the country's largest insurance company owned by it, through this IPO wholly offer for sale. Through this IPO, the government plans to raise Rs 21 thousand crore from the market. The way this IPO is getting the response of investors, according to that this IPO can be considered successful. According to the data of Bombay Stock Exchange (BSE), the government had put up 16,20,78,067 shares for sale through this IPO, but on the fourth day it has got 24,33,13,395 shares from investors i.e. 1.5. Guna subscription has been received. Apart from this, till the fourth day, the share of QIBs has been subscribed 0.67 times, while the share of non-institutional investors (NIIs) is 0.87 times.
Let us inform here that for the first time, an IPO is open for subscription on Saturdays and Sundays as well. Actually, this facility has been provided to attract investors and give them an opportunity to invest in this biggest IPO. Apart from this, RBI has also ordered to keep the bank branches offering ESBA (Application Supported Through Blocked Amount in Account) facility for LIC IPO open on Sundays as well. However, bank unions are opposing this order.