On the final day of bidding, the insurance behemoth Life Insurance Corporation of India’s (LIC) IPO, the country’s largest ever, witnessed 2.95 times greater demand than the shares on sale, generating bids totalling Rs 43,933 crore.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Domestic investors, mostly retail, were the primary drivers of the subscription. The IPO received 7.33 million retail investor applications, breaking the previous record of 4.8 million set by Reliance Power in 2008. Foreign portfolio investors (FPIs) were lukewarm on the issue, owing to global risk aversion caused by rising bond yields.
The policyholders’ component witnessed the highest level of participation, with bids totaling over Rs 12,000 crore. Employees’ shares were 4.4 times subscribed, while retail individual investors’ shares were two times subscribed, with bids totaling over Rs 12,450 crore.
Life Insurance Corporation of India’s (LIC)
The Life Insurance Corporation of India (LIC) is an Indian statutory insurance and investment company with its headquarters in Mumbai. It is under the control of the Indian government. The Life Insurance Corporation of India was founded on September 1, 1956, when the Indian Parliament passed the Life Insurance of India Act, which nationalised the Indian insurance business. The state-owned Life Insurance Corporation of India was formed through the merger of over 245 insurance companies and provident societies.
Weekly Current Affairs One-Liners Current Affairs 2026 plays a very important role in competitive examinations…
In a major reform aimed at improving the ease of doing business in India, the…
José Antonio Kast has officially taken office as the new President of Chile, marking a…
Child marriage is a serious social issue in India, affecting the rights, health, and education…
Prime Minister Narendra Modi recently dedicated a modern elevated road corridor connecting Pandu Port to…
The Union Ministry of Jal Shakti is taking big steps under Jal Jeevan Mission (JJM)…