lic: LIC IPO met with large success, allotment on Could 12: DIPAM Secretary

DIPAM Secretary Tuhin Kanta Pandey on Monday mentioned that the much-awaited IPO of Life Insurance coverage Company was an amazing success and the problem was subscribed practically 3 occasions on the shut at present.

“We’re happy to tell you that the IPO provide which began on the 4th of Could has closed at present at 7 pm and it has met with large success from all classes of buyers; it will ultimately result in itemizing of LIC and deepen the capital market,” Pandey mentioned whereas addressing a press briefing within the night at present.

The DIPAM secretary additional knowledgeable that the allotment of LIC IPO will happen on Could 12.

LIC IPO subscribed 2.95 occasions on the ultimate day which opened on Could 4 acquired bids for 47.83 crore fairness shares towards 16.20 crore shares on the provide. Many new demat accounts opened attributable to LIC IPO. Allotment of LIC IPO will happen on Could 12,” Pandey mentioned.

LIC’s IPO, the nation’s greatest public provide, opened on 4th Could. In opposition to 16,20,78,067 shares on provide, 47,83,25,760 bids have been acquired, in accordance with information posted on inventory exchanges at 7 pm at present.

With regard to non-institutional buyers (NIIs), a complete of 8,61,93,060 bids have been acquired for two,96,48,427 shares reserved for the class, reflecting a subscription of two.91 occasions.

Retail particular person buyers bid for 13.77 crore shares as towards 6.9 crore shares on provide for the section, translating into an over-subscription of 1.99 occasions.

The policyholders’ portion was subscribed a little bit over 6 occasions, whereas that for workers was subscribed 4.4 occasions.
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