New Delhi: LIC IPO will remain open on weekends to allow investors to bid for the country’s biggest-ever initial offer. The retail portion of the initial public offer (IPO) was fully subscribed on day three on Friday (May 7). Overall, the issue has been subscribed 1.38 times till Friday. The last date to participate in the offer is Monday, May 9, 2022. Investors planning to participate in the offer should check the latest LIC IPO GMP and subscribtption status before placing their bids.
LIC IPO Price Band
The insurance behemoth has fixed the price band at Rs 902-949 per share for its initial issue.
LIC IPO GMP
LIC IPO gray market premium (GMP) stood at Rs 42 on day four of the offer on Saturday, May 7, according to market observes. Previously, LIC IPO GMP stood at Rs 65.
LIC IPO Allotment Date
LIC IPO allotment is likely to begin on May 12.
LIC IPO Listing Date
LIC IPO shares are expected to list on Indian public stock exchanges BSE and NSE on Tuesday, May 17, 2022.
LIC IPO Subscription Status
The Retail Individual Investor (RII) portion received over 7.2 crore bids, as against 6.9 crore shares set aside for this segment, as per the exchange data at 11:36 am on May 6, 2022.
However, the Qualified Institutional Buyer and Non-Institutional Investor portion have been receiving a tepid response. For instance, the NII portion was subscribed 50 per cent. Also, the QIBs’ portion is still lower at 40 per cent, as of day three of the offer on May 6.
On the other hand, the policyholder portion received impressive demand. The quota was fully subscribed to on day one of the offers. The quota has now been subscribed over three times. On the other hand, the reserved employees’ segment was subscribed nearly two and a half times.
Overall, LIC IPO is more than fully subscribed as the offer has received 17,98,42,980 bids, as against 16,20,78,067 shares on sale. The last day to bid for LIC IPO shares is May 9. Also Read: Elon Musk aims to quintuple Twitter’s revenue to $ 26.4 billion by 2028: Report
Should Investors Bid For LIC IPO?
Despite the tepid response from QIBs and NIIs, experts suggest that investors should participate in the LIC IPO. The company is reportedly likely to hold its market leadership position in the coming times as well. Also Read: Airtel broadband suffers another outage, millions of users in Delhi, Mumbai, other cities impacted