Bidders in lic ipo to be allocated shares on may 12
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Bidders in LIC IPO will be allocated shares on May 12, and the insurance behemoth will be listed on stock exchanges on May 17, DIPAM Secretary Tuhin Kanta Pandey said on Monday, May 9.
Briefing reporters after closing of the issue, Pandey said the LIC IPO has met with tremendous success across all the segments. "Domestic investors have successfully pulled off the LIC
IPO. It is an example of Aatmanirbhar Bharat," he said, adding we are not dependent only on foreign investors. It will help deepen the capital markets, the secretary added. The
government sold 3.5% stake in the insurance giant through the initial public offering (IPO). "The allocation to investors in IPO would be made on May 12," Pandey added. Life
Insurance Corporation's IPO, the country's biggest public offer, was subscribed 2.95 times on the last day of offer period on Monday, helping the government mobilise about Rs
21,000 crore. Against 16,20,78,067 shares on offer, 47,83,25,760 bids were received, according to data posted on stock exchanges at 7 pm.