Life Insurance Corporation of India’s Initial Public Offering (IPO) received healthy response from investors as the offer was subscribed 2.91 times when reports last came in. The IPO will be available for public subscription till 7 p.m. today.
The IPO received bids for 47.17 crore equity shares against IPO size of 16.2 crore equity shares. The portion set aside for policyholders has been subscribed 5.99 times while employees have bid 4.32 times the allotted quota. Apart from these, Retail investors have bid 1.95 times and the reserved portion segment of qualified institutional buyers has been booked 2.83 times.
