The non-institutional category, consisting of corporates, individuals, and others has seen muted demand, with only 5 per cent subscription so far
Retail investors will be alloted 35% of the total shares in the offer, and given a discount of 45 rupees from the IPO price
The much-awaited IPO of Life Insurance Corporation is set to open for subscription today, after it recorded bumper participation from anchor investors. Find out if you should subscribe to it.
LIC public offer, the country's biggest-ever IPO, on Wednesday opened for subscription for retail and institutional investors.
But its share by volume declines in the March quarter
Insurer raises Rs 5,627 cr in anchor book but overseas investors disappoint
Ahead of its initial public offering, insurance behemoth LIC on Tuesday approached its policyholders through SMS and other medium to inform them about the share sale.
The insurance behemoth aims to protect its market share through increased focus on bancassurance and enhancing direct sales of its products on its website
LIC raises a total of Rs 5,627 crore in anchor book; overseas funds pour in just Rs 1,624 crore
The insurer has growth potential, underestimated embedded value and the government sell its stake in the company again
The Indian government has said it expects to raise up to $2.74 billion, just a third of its original target, from selling a 3.5% stake in LIC in the country's biggest initial public offering (IPO)
Delhivery's IPO will be second biggest this year after LIC
The LIC IPO aims to price shares between 902 rupees and 949 rupees each
This could free up more funds to invest in the largest IPO, say industry insiders
The company said it is also offering free demat accounts for lifetime to all
Norges Bank Investment Management, GIC Pte and Abu Dhabi Investment Authority will be among the anchor names due to be announced Monday, the people said, asking not to be identified
Institutional demand for IPOs of both Rainbow Medicare and Campus Activewear, which closed this week, have been strong. Experts say this is a healthy sign for LIC's IPO, which opens next week
Insurance behemoth has over 1% holding in 47 Nifty50 firms
The LIC has set a price band of Rs 902-Rs 949 per equity share. The government intends to raise Rs 21,000 crore through the issue
The institutional portion was subscribed by 10 per cent, the retail investor portion by 82 per cent