LIC's public offer, the country's biggest-ever IPO, is witnessing good demand from investors on Day 2.
Life Insurance Corporation of India (May 4 to May 9, 2022)
IPO Subscribed 0.83 times at 1.00 PM (Day 2)
Overall 0.83 times, QIB. 0.34 times, NII 0.33 times, Retail 0.77 times, Employee Reserved 1.70 times, Policyholder Reserved 2.53 times
The policyholders' portion was oversubscribed on the first day itself on Wednesday, though overall subscription stood at 67 percent.
The government aims to generate about Rs 21,000 crore by selling 3.5 percent stake in the insurance behemoth.
LIC's initial public offering (IPO), open for retail and institutional investors, is set to close on May 9. The issue period also includes bidding on Saturday, May 7.