LIC IPO issue price set at Rs 949; may get listed on Tuesday: Report

The LIC IPO offered within the vary of Rs 902-949 from May 4 to May 9

LIC IPO | IPOs | Markets

BS Web Team  | 
New Delhi 

Life Insurance Corporation (LIC) of India has set the preliminary public providing (IPO) issue price at Rs 949, which is at the top-end of the indicative vary, mentioned a report within the Economic Times.

The LIC IPO offered within the vary of Rs 902-949 from May 4 to May 9. LIC is the largest IPO within the historical past of Indian stock markets. Owing to the robust demand from the retail traders, policyholders, and workers of the company, the IPO was subscribed 2.85 instances on the ultimate day of bidding.

The insurance coverage big of India obtained bids for 478.3 million shares in opposition to the 162 million on sale (excluding the anchor guide), in keeping with the trade knowledge. The issue broke the 14-year-old document of Anil Ambani’s Reliance Power share sale that drew 4.8 million purposes in 2008. LIC obtained greater than 7.3 million purposes.

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First Published: Fri, May 13 2022. 10:48 IST

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