Insurance behemoth Life Insurance Corporation of India’s (LIC’s) initial public offering (IPO), the biggest ever in the country, saw 2.95 times more demand than the shares on offer on the final day of bidding on Monday, generating bids worth Rs 43,933 crore.
The subscription was primarily driven by domestic investors, mainly retail. The IPO saw 7.33 million applications from retail investors, the highest ever for a domestic issue, topping Reliance Power’s 2008 record of 4.8 million. The issue, however, got a lukewarm response from foreign portfolio investors amid global risk-off sentiment due to rising bond yields.
The policyholders’ portion saw the maximum subscription at over six times, derived bids of over Rs 12,000 crore. The employees’ portion was subscribed 4.4 times, while the retail individual investors’ part saw two times subscripti on with bids worth over Rs 12,450 crore.
The offer received bids for 478,367,010 shares against the offered 162,078,067 shares (excluding those offered to anchor investors), according to data available on the bourses.
The allotment of LIC IPO is scheduled for May 12, 2022. Those who want to check their allotment status can do so online. Here’s how to check it online once it is out:
How to check LIC IPO allotment on BSE:
1. Visit the official website of BSE or click here
2. Select LIC IPO in the menu.
3. Enter your application number allotted for LIC IPO.
4. Then enter your PAN card number and click at ‘I’m not a robot’ and confirm the captcha.
6. Click at the ‘Submit’ button and you will be able to see the LIC IPO allotment status displayed on the screen.