Bhubaneswar: Within two and a half hours of its opening on Wednesday, the initial public offering (IPO) of LIC was fully subscribed by its policyholders.
The policyholders quota for IPO of insurance behemoth Life Insurance Corporation of India (LIC) was fully subscribed with retail portion receiving 33 per cent bid till 12.30 pm on first day. The employees’ quote has been subscribed 51 per cent so far.
However, the non-institutional category, consisting of corporates, individuals, and others has seen muted response with only 5% subscription so far.
The LIC has fixed a price band of Rs 902-949 for the public issue and offered a special discount of Rs 60 to policyholders and Rs 45 per share to retail investors and its employees.
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