Wednesday, May 18, 2022
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IPO-bound LIC asks its policyholders to update PAN for participation in IPO

New Delhi, May 7 (PTI) The portion of LIC’s initial public offering earmarked for non-institutional investors, including high net-worth individuals, has been subscribed fully on the fourth day on Saturday.

Against the total 2,96,48,427 shares reserved for Non-Institutional Investors (NII), 3,06,73,020 bids were received resulting in subscription of 1.03 times, according to data posted on stock exchanges at 4:36 pm.

The overall issue was subscribed 1.59 times.

However, the Qualified Institutional Buyer (QIB) portion is yet to be fully subscribed. It is still 0.67 per cent of shares earmarked for the QIB.

Retail individual investors bid for 9.57 crore shares as against 6.9 crore set aside for this segment, translating into an oversubscription of 1.38 times.

Of the total, the policyholders’ portion was subscribed 4.4 times, while that for employees was subscribed 3.4 times.

State-owned LIC’s IPO (Initial Public Offering) will close on May 9. The country’s biggest ever public offer is open for subscription on Saturday and Sunday as well.

Meanwhile, LIC in a statement said that a fire broke out at around 6.40 am in the LIC’s Jeevan Seva building, Santacruz in Mumbai, which houses the SSS divisional office.

“It was restricted to the 2nd floor of the building. Fire services have deployed fire brigades to arrest the fire and they are bringing it under control. There are no casualities or issues affecting personnel. The data center of LIC which is housed nearby is safe and precautionary measures have been taken to protect our IT assets,” it said.

LIC is informed that all critical IT (Information Technology) assets for providing service to customers have adequate disaster recovery set-up in place.

Hence, there would not be any problem in providing services to customers, it added. PTI DP HVA

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