The LIC IPO sold in the range of Rs 902-949 from May 4 to May 9
Topics
LIC IPO | IPOs | Markets
BS Web Team |
Last Updated at May 13, 2022 10:48 IST
Life Insurance Corporation (LIC) of India has set the initial public offering (IPO) issue price at Rs 949, which is at the top-end of the indicative range, said a report in the Economic Times.
The LIC IPO sold in the range of Rs 902-949 from May 4 to May 9. LIC is the biggest IPO in the history of Indian stock markets. Owing to the strong demand from the retail investors, policyholders, and employees of the company, the IPO was subscribed 2.85 times on the final day of bidding.
The insurance giant of India received bids for 478.3 million shares against the 162 million on sale (excluding the anchor book), according to the exchange data. The issue broke the 14-year-old record of Anil Ambani’s Reliance Power share sale that drew 4.8 million applications in 2008. LIC received more than 7.3 million applications.
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First Published: Fri, May 13 2022. 10:48 IST
