Fully subscribed retail category
LIC IPO is in the form of Offer for Sale (OFS) and through this the government wants to sell 22.13 crore shares. LIC’s IPO got full subscription on Friday, the third day in the retail category. According to the data available in the stock exchanges till 7 pm, LIC received 22,36,98,915 bids for 16,20,78,067 shares. This is 1.38 times as compared to the total issue. The eligible institutional buyers (QIBs) and non-institutional buyers segment is yet to get full subscription. On the third day, the QIB segment got 56 per cent subscription and the non-institutional buyers category got 76 per cent subscription. On the third day, the company’s IPO for 6.9 crore shares reserved for retail investors received 1.23 times subscription i.e. 8.53 crore bids.