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LIC IPO Highlights: Blockbuster issue subscribed 2.95 times on the final day

LIC IPO Highlights, LIC IPO Last Day (Day 6) News: The price band of LIC IPO is fixed at Rs 902-949 per share. All portions of the offer got oversubscribed.

LIC IPO Live, LIC IPO open UpdatesLIC IPO Open Live: LIC building in New Delhi, Wednesday, May 4, 2022. (PTI Photo)

LIC IPO Highlights: The blockbuster initial public offering (IPO) of Life Insurance Corporation of India (LIC), the country’s largest life insurer, was subscribed 2.95 times by the end of sixth and final day of bidding. The issue had opened on Wednesday and got fully subscribed towards the end of the second day (Thursday).

At 7:00 pm, the policyholders portion was subscribed 6.12 times while the employees segment was subscribed 4.40 times, the data from the National Stock Exchange (NSE) showed. Apart from these two segments, the qualified institutional buyers (QIBs) quota was subscribed 2.83 times, the non institutional investors was subscribed 2.91 times and the retail segment was subscribed 1.99 times, the data on Monday showed.

The LIC IPO was available for public subscription from Wednesday till 7 pm today (May 9, 2022). The offer also remained open this past weekend to enable people to participate. This was perhaps for the first time a special dispensation is granted to any public offer. The price band of LIC IPO is Rs 902-949 per share and the company offered a discount of Rs 60 per share for its policyholders and Rs 45 apiece for retail investors and LIC employees.

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Follow this space for all LIVE Updates on the LIC IPO: All portions of the LIC IPO got oversubscribed.

19:20 (IST)09 May 2022
LIC IPO subscribed 2.95 times on final day led by demand from policyholders and employees

India’s largest initial public offering (IPO) of insurance sector behemoth Life Insurance Corporation of India (LIC), which was launched last Wednesday met with a positive response by the investors across the board as it got subscribed 2.95 times on the final day, according to the data available on the BSE.

The Rs 21,000 crore offer received bids for over 47.83 crore (47,83,67,010) shares against the total issue size of over 16.20 crore (16,20,78,067) shares, the data showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 2.83 times, while those of non institutional investors was subscribed 2.91 times and that of retail individual investors (RIIs) was subscribed 1.99 times, the data showed. Apart from these, the policyholders portion was subscribed 6.11 times while the employees segment was subscribed 4.39 times. Click here to read

18:07 (IST)09 May 2022
LIC IPO subscription update

LIC IPO Subscription Update as of 6:00 PM on Last Day (Day 6)

Qualified Institutional Buyers (QIBs) subscribed 2.83 times

Non Institutional Investors subscribed 2.91 times

Retail Individual Investors (RIIs) subscribed 1.98 times

Employees subscribed 4.38 times

Policyholders subscribed 6.10 times

Total subscribed 2.95 times

Source: NSE

16:43 (IST)09 May 2022
LIC IPO final day subscription update

LIC IPO Subscription Update as of 4:33 PM on Last Day (Day 6)

Qualified Institutional Buyers (QIBs) subscribed 2.83 times

Non Institutional Investors subscribed 2.90 times

Retail Individual Investors (RIIs) subscribed 1.96 times

Employees subscribed 4.33 times

Policyholders subscribed 6.02 times

Total subscribed 2.92 times

Source: NSE

15:38 (IST)09 May 2022
LIC IPO final day subscription update

LIC IPO Subscription Update as of 3:30 PM on Last Day (Day 6)

Qualified Institutional Buyers (QIBs) subscribed 2.82 times

Non Institutional Investors subscribed 2.61 times

Retail Individual Investors (RIIs) subscribed 1.93 times

Employees subscribed 4.29 times

Policyholders subscribed 5.95 times

Total subscribed 2.84 times

Source: NSE

14:44 (IST)09 May 2022
LIC IPO final day subscription update

LIC IPO Subscription Update as of 2:36 PM on Last Day (Day 6)

Qualified Institutional Buyers (QIBs) subscribed 2.22 times

Non Institutional Investors subscribed 2.12 times

Retail Individual Investors (RIIs) subscribed 1.85 times

Employees subscribed 4.20 times

Policyholders subscribed 5.73 times

Total subscribed 2.55 times

Source: NSE

14:16 (IST)09 May 2022
Foreign investors shun LIC IPO over market risks

Foreign institutional investors have on the whole steered clear of India’s biggest share sale, deeming it too expensive given currency risks and the global market backdrop.

With just hours to go until the end of the subscription period for the $2.7 billion initial public offering of Life Insurance Corporation of India, foreign institutional funds have put in orders for merely 8% of the shares set aside for all institutional buyers. Click here to read

13:45 (IST)09 May 2022
LIC IPO subscription update

LIC IPO Subscription Update as of 1:36 PM on Last Day (Day 6)

Qualified Institutional Buyers (QIBs) subscribed 1.73 times

Non Institutional Investors subscribed 1.84 times

Retail Individual Investors (RIIs) subscribed 1.80 times

Employees subscribed 4.13 times

Policyholders subscribed 5.59 times

Total subscribed 2.33 times

Source: NSE

12:37 (IST)09 May 2022
LIC IPO subscription update

LIC IPO Subscription Update as of 12:30 PM on Day 6

Qualified Institutional Buyers (QIBs) subscribed 1.18 times

Non Institutional Investors subscribed 1.51 times

Retail Individual Investors (RIIs) subscribed 1.75 times

Employees subscribed 4.05 times

Policyholders subscribed 5.46 times

Total subscribed 2.09 times

Source: NSE

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11:38 (IST)09 May 2022
LIC IPO subscription update

LIC IPO Subscription Update as of 11:30 AM on Day 6

Qualified Institutional Buyers (QIBs) subscribed 1.12 times

Non Institutional Investors subscribed 1.35 times

Retail Individual Investors (RIIs) subscribed 1.70 times

Employees subscribed 3.98 times

Policyholders subscribed 5.33 times

Total subscribed 2.01 times

Source: NSE

10:40 (IST)09 May 2022
LIC IPO subscription update

LIC IPO Subscription Update as of 10:33 AM on Day 6

Qualified Institutional Buyers (QIBs) subscribed 1.07 times

Non Institutional Investors subscribed 1.30 times

Retail Individual Investors (RIIs) subscribed 1.64 times

Employees subscribed 3.87 times

Policyholders subscribed 5.18 times

Total subscribed 1.95 times

Source: NSE

09:36 (IST)09 May 2022
LIC IPO subscription update

LIC IPO Subscription Update as of 7:00 PM on Day 5

Qualified Institutional Buyers (QIBs) subscribed 0.67 times

Non Institutional Investors subscribed 1.24 times

Retail Individual Investors (RIIs) subscribed 1.59 times

Employees subscribed 3.79 times

Policyholders subscribed 5.04 times

Total subscribed 1.79 times

Source: NSE

19:24 (IST)07 May 2022
LIC IPO's non-institutional investors' portion fully subscribed on Day 4

The portion of LIC's initial public offering earmarked for non-institutional investors, including high net-worth individuals, has been subscribed fully on the fourth day on Saturday. Against the total 2,96,48,427 shares reserved for Non-Institutional Investors (NII), 3,06,73,020 bids were received resulting in subscription of 1.03 times, according to data posted on stock exchanges at 4:36 pm. PTI

13:49 (IST)07 May 2022
IIFL Research on LIC IPO

"At the upper price band of ₹949, Life Insurance Corporation of India is demanding a PE multiple of ~201.91X based on FY21 earning which is much higher than the industry average PE multiple of 79.77X of FY21. This might look expensive, but if we look at the company’s Indian Embedded Value of ₹5,39,686 crores as on September 30, 2021, the Market Cap to Embedded Value (EV) Ratio comes in at just 1.11X. It’s peers like HDFC Life Insurance and SBI Life Insurance are trading at an EV multiple of 4.05x and 3.10x, while ICICI Prudential Life trades at 2.5x EV multiple. Looking at the strong brand value, market leadership, extensive distribution networks, robust risk management and plans of diversifying the product mix we recommend subscribe to the issue with a long-term perspective."

Source: IPO Note

13:44 (IST)07 May 2022
LIC IPO Subscription Update as of 1:36 PM on Day 4

Qualified Institutional Buyers (QIBs) subscribed 0.67 times

Non Institutional Investors subscribed 0.80 times

Retail Individual Investors (RIIs) subscribed 1.32 times

Employees subscribed 3.29 times

Policyholders subscribed 4.25 times

Total subscribed 1.48 times

11:00 (IST)07 May 2022
LIC IPO to remain open for subscription on Saturday and Sunday

LIC public offer will remain open for subscription even on weekend to enable people to participate in the mega IPO of the state-owned insurer. This is perhaps for the first time the special dispensation is granted to any public offer.

The issue period also includes bidding on Saturday, May 7, 2022 and Sunday, May 8, 2022, LIC informed exchanges. Earlier bidding was allowed on May 7 (Saturday) only.

To facilitate this, Reserve Bank of India (RBI) directed all ASBA-designated bank branches to remain open for public on Sunday to facilitate processing of applications for LIC's initial public offering.

09:52 (IST)07 May 2022
LIC IPO Subscription Update as of 7:00 PM on Day 3

Qualified Institutional Buyers (QIBs) subscribed 0.56 times

Non Institutional Investors subscribed 0.76 times

Retail Individual Investors (RIIs) subscribed 1.23 times

Employees subscribed 3.06 times

Policyholders subscribed 4.01 times

Total subscribed 1.38 times

17:25 (IST)06 May 2022
LIC IPO subscription update

LIC IPO Subscription Update as of 5:15 PM on Day 3

Qualified Institutional Buyers (QIBs) subscribed 0.55 times

Non Institutional Investors subscribed 0.69 times

Retail Individual Investors (RIIs) subscribed 1.19 times

Employees subscribed 2.96 times

Policyholders subscribed 3.89 times

Total subscribed 1.33 times

Source: NSE

14:23 (IST)06 May 2022
LIC IPO subscription update

LIC IPO Subscription Update as of 2:15 PM on Day 3

Qualified Institutional Buyers (QIBs) subscribed 0.41 times

Non Institutional Investors subscribed 0.58 times

Retail Individual Investors (RIIs) subscribed 1.10 times

Employees subscribed 2.74 times

Policyholders subscribed 3.61 times

Total subscribed 1.20 times

Source: NSE

12:52 (IST)06 May 2022
LIC IPO subscription update

LIC IPO Subscription Update as of 12:45 PM on Day 3

Qualified Institutional Buyers (QIBs) subscribed 0.41 times

Non Institutional Investors subscribed 0.54 times

Retail Individual Investors (RIIs) subscribed 1.06 times

Employees subscribed 2.61 times

Policyholders subscribed 3.51 times

Total subscribed 1.16 times

Source: NSE

11:45 (IST)06 May 2022
LIC IPO subscription update

LIC IPO Subscription Update as of 11:39 AM on Day 3

Qualified Institutional Buyers (QIBs) subscribed 0.40 times

Non Institutional Investors subscribed 0.51 times

Retail Individual Investors (RIIs) subscribed 1.02 times

Employees subscribed 2.48 times

Policyholders subscribed 3.37 times

Total subscribed 1.11 times

Source: NSE

LIC is the country’s oldest and largest life insurance firm. It was formed by merging and nationalising 245 private life insurance companies on September 1, 1956, with an initial capital of Rs 5 crore. LIC now manages around Rs 40 lakh crore assets and is the fifth-largest life insurer globally and the largest asset manager in the country.

At the end of the fifth day of subscription, the issue was subscribed 1.79 times. The segment for policyholders and employees got oversubscribed 5.04 times and 3.79 times respectively. Apart from these two segments, the Qualified institutional buyers (QIBs) quota was subscribed 0.67 times, non institutional investors segment was subscribed 1.24 times and the retail portion was subscribed 1.59 times.

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First published on: 06-05-2022 at 10:25:43 am
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