The qualified institutional buyers’ portion of the initial public offering of Life Insurance Corporation of India was fully subscribed on Monday morning.
According to data from the stock exchanges, the QIB quota was subscribed 1.07 times by 10:18 am.
The overall issue is subscribed 1.93 times with bids for 31.07 crore shares against 16.2 crore shares.
The government is on track to raise ₹21,000 crore from the LIC IPO, the biggest such exercise to date in the country.
The offer opened on May 4 and will close today.
Strong demand continued from retail investors as well as eligible policyholders and employees.
The policyholder reserved category was subscribed 5.12 times, while the employee category was subscribed 3.83 times. The portion for retail individual investors was subscribed 1.62 times, while non-institutional category was subscribed 1.29 times.