The authorities bought over 22.13 crore shares or a 3.5 per cent stake in LIC by means of the IPO. The value band of the problem was Rs 902-949 a share. However, shares had been allotted to traders on May 12 on the higher finish of the worth band.
The LIC IPO – India’s largest up to now – closed with 2.95 occasions subscription, predominately led by by retail and institutional consumers, however international investor participation remained muted.
Before heading into the IPO, the life insurance coverage big had raised over Rs 5,627 crore from the anchor traders.
