LIC’s public offer, the country’s biggest-ever IPO, was fully subscribed on the second day of bidding on Thursday, May 5. Against 16,20,78,067 shares on offer, 16,25,35,125 bids were received, making the public issue fully subscribed, as per data on stock exchanges as of 6.24 pm. Of the total, the policyholders’ portion was subscribed a little over three times, while that for employees was subscribed 2.14 times. Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) portion has received a tepid response so far. Non-institutional investors’ segment was subscribed 46%, while QIBs’ portion was slightly lower at 40%.
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