LIC IPO garners Rs 43,933 crore demand, subscribed 2.95 times on final day

The public issue of Life Insurance Corporation of India (LIC) has garnered good demand from investors as it received bids worth Rs 43,933.5 crore till May 9, the final day of bidding, which was more than double the issue size. The issue was opened on May 4.

The offer was subscribed 2.95 times as investors put in bids for 47.82 crore equity shares against IPO size of 16.20 crore shares, as per the subscription data available on exchanges. The participation by policyholders remained quite strong as they bid 6.12 times the allotted quota and the value of shares subscribed for was Rs 12,034 crore.

Retail investors have invested Rs 12,456 crore in the IPO, the highest amount among investors during May 4-9. Their reserved portion was subscribed 1.99 times and that of employees 4.4 times.