LIC IPO subscribed 2.95 times, generates bids worth Rs 43,933 crore

The policyholders’ portion saw the maximum subscription at over six times, generating bids of over Rs 12,000 crore. The employees’ portion was subscribed 4.4 times, while the retail individual investors’ part saw two times subscription with bids worth over Rs 12,450 crore.

The qualified institutional buyer (QIB) and high networth individual (HNI) categories were subscribed 2.83 times and 2.91 times, respectively, generating bids worth Rs 18,815 crore. FPIs submitted bids of less than Rs 2,300 crore.

The offer received bids for 478,367,010 shares against the offered 162,078,067 shares (excluding those offered to anchor investors), according to data available on the bourses.

The government was looking to raise Rs 20,557 crore by diluting a 3.5 per cent stake in the insurer, making it the biggest public offering of the Indian capital market. Initially, the government was looking to dilute 5 per cent in the insurer, but given the volatile market conditions due to geopolitical tensions, it decided to reduce the equity dilution.