Home News lic: LIC IPO met with tremendous success, allotment on May 12: DIPAM Secretary

lic: LIC IPO met with tremendous success, allotment on May 12: DIPAM Secretary

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lic: LIC IPO met with tremendous success, allotment on May 12: DIPAM Secretary


DIPAM secretary Tuhin Kanta Pandey said on Monday that the long-awaited life insurance company’s IPO was a huge success, with the issue nearly three times subscribed at the close today.

“We are pleased to inform you that the IPO offer, which started on May 4, has closed at 7pm today with great success from various investors; this will eventually lead to the listing of LIC and deepen the capital market” Pandey said in said at a press conference this evening.

The DIPAM secretary further informed that the allocation of the LIC IPO will take place on May 12.

“LIC IPO was 2.95 times subscribed on the last day of opening on May 4 and received bids for 478.3 million shares compared to 16.2 million shares in the offer. Many new demat accounts were opened due to LIC IPO. LIC The distribution of the IPO will take place on May 12,” Pandey said.

LIC’s IPO, the largest in the country, kicked off on May 4. According to data released on the stock exchange at 7pm today, out of 16,20,78,067 shares on offer, 47,83,25,760 shares were offered.

Non-institutional investors (NII) received a total of 8,61,93,060 shares, subscribed for 2,96,48,427 shares, subscribed 2.91 times.

Retail individual investors bid 137,700 shares, while the sector offered 69,000 shares, representing an oversubscription of 1.99 times.

The insured part subscribed a little more than 6 times, and the employee part subscribed 4.4 times.

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