LIC IPO has received tremendous response from the investors across various categories. Within the span of six days, investors including policy holders and retail investors have bidded for the IPO which was oversubscribed around three times. 

Briefing media in New Delhi today, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said, LIC IPO has met with tremendous success from all categories of investors. He said, this will provide opportunity to the investor to be the part of the largest life insurer of the country.

IPO of LIC was opened for public subscription on 4th of this month which ended today at 7 P.M. This IPO is the biggest public offering in the country. The allotment of shares will take place on 12th of this month and the IPO will list for trading on 17th of this month. LIC had fixed the price band of 902 to 949 rupees per Equity Share for its maiden public offer. 

The LIC had offered a discount of 45 rupees per share to Retail and Eligible Employee Category and 60 rupees per share to Policyholder Category. With this IPO, the government is looking to divest its 3.5 per cent stake in the insurer and aims to garner around 21 thousand crore rupees through IPO.