Life Insurance Corporation (LIC) is likely to announce the allotment status of its IPO today. Opened for subscription From May 4 to 9, LIC IPO is the largest initial public offering in the history of the Indian stock market.
• Subscribers can check the status of their LIC IPO allotment today
• The LIC IPO was subscribed 2.95 times despite weaker market conditions
• The IPO will be listed on stock exchanges on May 17
About LIC IPO
The state-owned Life Insurance Corporation offered 16 crore shares through an IPO and received bids for 47 crore shares in the six days of the IPO bidding process. The IPO was subscribed 2.95 times but some experts are of the opinion that LIC IPO failed to perform despite its huge size because of a weak market environment.
But retail investors show much interest in the offering. The portion reserved for them was oversubscribed by 1.99 times on the last day of the bidding process.
Price of LIC IPO Shares
LIC offered its shares at a price band of Rs.902-Rs.949 per share but experts rate it low … Read the rest