The country’s biggest-ever IPO by LIC witnessed full subscription of the retail portion on its third day on Friday. The overall issue was subscribed 1.38 times, according to data posted on stock exchanges on 7pm.
However, the qualified institutional buyer (QIB) and Non-institutional investor (NII) portions are yet to be fully subscribed. Subscription for non-institutional investors’ segment stood at 76%, while that for QIBs’ portion was lower at 56%. Retail individual investors bid for 8.53 crore shares as against 6.9 crore shares set aside for this segment – translating into oversubscription of 1.23 times. The IPO will close on May 9.