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LIC IPO receives record applications from retail investors
May 09, 2022
The initial public offer (IPO) of Life Insurance Corporation (LIC) kept on areas of strength for getting from workers, policyholders, and retail investors as the issue got bought 1.78 times till May 8, the fifth day of offering. The country’s greatest public issue got 29.07 crore offers against 16.02 crore shares on the deal.
The part saved for retail investors was completely bought in on the third day and 1.59 times toward the finish of the fifth day of membership. The issue got 10.9 crore offers from retail individual investors, against 6.9 crore shares put away for them.
It very well might be reviewed, the underlying offer of Reliance Power in 2008 had gotten 4.8 million applications. After fourteen years, LIC crushed this record as it got almost 6 million applications from retail equity investors.
The LIC IPO opened for membership on May 4 and will close on May 9. Offering for the issue was additionally open on Saturday and Sunday.
The IPO is isolated into three sections: 50 percent standard has been held for qualified institutional purchasers (QIB), 35% for non-institutional investors (NII), and the excess 15% for retail individual investors (RII). A 10% rebate was additionally proposed to policyholders.
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