Utility News: LIC's IPO opened, bidding can be done till this day

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The IPO of Life Insurance Corporation of India (LIC), the largest in the history of India, has been opened for subscription. Investors can bid for it from today till May 9. It will remain open till 5 pm on May 9. 

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With the opening of the IPO of Life Insurance Corporation of India (LIC), investors are broken on it. You will be surprised to know that within just 10 minutes of the opening of the IPL, 17 lakh shares have been bid for. 

The issue has got 3 percent subscription till the time of writing this news. Not only this, 7 percent of the reserved share for the employees has also been booked. 

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It is worth noting that the price band of LIC IPO has been fixed at Rs 902-949 per share. Experts believe that investing in it can be a profitable deal for the long term. Its listing in the stock market is to be done on 17 May.