Bumper response to LIC IPO: IPO 2.95 times subscribed – Full Details

 Bumper response to LIC IPO: IPO has been subscribed 2.95 times, says DIPAM Secretary – This issue shows the strength of autonomous India.

The LIC IPO has been well received by investors. Today is the last day of subscription for this IPO which was launched for retail investors on May 4th. Issue 2.95 times subscribed. Bids were received for 47.77 crore equity shares as against 16.2 crore shares.

The portion reserved for policyholders was 6.10 times, staff 4.39 times and the share of retail investors was 1.99 times subscribed. QIB’s allotted quota received 2.83 times bids, while NII’s share was 2.91 times subscribed. The shares will be listed on the stock exchange on May 17. Many market analysts suggest investing in an IPO.

LIC IPO delayed due to Russia-Ukraine war issue ‘Atmanirbhar Bharat’ Strength

Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), said. The problem was successful. Says we are hopeful and confident on Listing Day.

Responding to a question on whether foreign investors were not investing as much as expected, Pandey said the LIC IPO would show India’s strength in self-sufficiency. This issue shows that there is potential in our capital markets as well as in our investors … We cannot rely entirely on foreign institutional investors. FIIs are also welcomed, but this issue is mainly taken up by domestic investors.

LIC’s gray market premium halved;

The gray market premium for the IPO fell more than 52.9% to Rs 40. Previously it was Rs.85. Sentiment against the market is believed to be the reason for the fall. In fact, the US Fed has raised interest rates, which has put the global market under pressure. Inflation remains a problem for the whole world.

5,630 crore raised from anchor investors

The Government of India has sold its 3.5% stake in LIC for nearly Rs. 21,000 crore. The price band of the IPO is Rs. 902-949. LIC on May 2 raised Rs 5,630 crore from 123 anchor investors for Rs 949 crore instead of 59.3 million shares.

Will everyone get shares?

The LIC issue size is 21 thousand crores. This is the largest IPO in India to date. Therefore, the chances of the shares coming in are very high for most people who have applied for an IPO. That is, you can say that the shares will be available to all the people who fill the IPO.

Why is the government selling its stake in LIC?

According to experts, the economy is in a critical stage. Government responsibility has increased significantly. The government needs a lot of money and does not want to borrow too much to meet its funding needs. This is the biggest reason to do so at the moment.

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