The policyholder quota was subscribed over 5 occasions, worker portion 3.8 occasions and retail particular person investor quota 1.6 occasions
Life Insurance Corporation’s (LIC’s) preliminary public providing (IPO) was subscribed 1.79 occasions on Sunday, a day earlier than its shut. The policyholder quota was subscribed over 5 occasions, worker portion 3.8 occasions and retail particular person investor quota 1.6 occasions.
The institutional investor and rich investor have seen subscriptions of 67 per cent and 1.24 occasions, respectively.
Over the weekend, the IPO noticed 1.2 million traders submit their bids value over Rs 6,000 crore, stated funding bankers.
The complete functions obtained by the IPO have reached 5.9 million, highest-ever for a public providing within the home market. LIC was the primary IPO to stay open on weekends.
The authorities has set the worth band for the IPO between Rs 902 to Rs 949 per share, with an extra low cost of Rs 45 and Rs 60, for retail and policyholders, respectively. At the upper-end of the price-band, LIC may have a market worth of Rs 6 trillion, making it India’s fifth most beneficial agency.
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