LIC IPO: Policyholders portion oversubscribed by 5.04 times, demand from QIBs tepid on 5th Day

LIC IPO: Policyholders continue to tap LIC IPO with the portion reserved for this category now oversubscribing by more than 5 times on Sunday. The portion reserved for employees, retail investors, and HNIs also picked momentum on the 5th day. However, the demand from QIBs remained broadly muted.

Data given on NSE showed that cumulatively LIC IPO received bids of 29,08,27,860 equity shares against the offered size of 16,20,78,067 equity shares - subscribing by 1.79 times.

The portion reserved for policyholders oversubscribed by 5.04 times with bids of 11,16,32,100 equity shares against the reserved 2,21,37,492 equity shares.

The employees' category subscribed by 3.79 times with cumulative bids of 59,98,860 equity shares against the reserved portion of 15,81,249 equity shares.

The retail Individual Investors (RIIs) category received cumulative bids of 10,99,19,370 equity shares against the reserved portion of 6,91,79,663 equity shares - subscribing 1.59 times.

Non-institutional investors aka HNIs also picked up the pace with the category subscribing by 1.24 times with cumulative bids of 3,67,73,040 equity shares against the reserved portion of 2,96,48,427 equity shares.

However, the Qualified Institutional Buyers (QIBs) category witnessed lacklustre demand with cumulative bids of 2,65,04,490 equity shares - subscribing by merely 67% against the reserved portion of 3,95,31,236 equity shares.

Cumulative bids include demand on both BSE and NSE. QIBs include foreign institutional investors, domestic financial institutions (banks, financial institutions, insurance companies), mutual funds, and others. NIIs include corporates and other high net worth investors. RIIs include individual investors.

LIC IPO opened on May 4 and will be available for subscription till May 9. The IPO has a price band of ₹902 to ₹949 per equity share.

The nearly ₹21,000 crore LIC IPO is the biggest ever in the market. Post the IPO, the life insurance giant will list on BSE and NSE.