IPO News – The country’s biggest IPO filled 2.95 times on the last day. In this, the share of policyholders was highest at 6.11 times, while the share of employees was 4.39 times. Retail investors bid 1.99 times their share, while non-institutional investors put in 2.91 times. The share of QIB was filled by 2.83 times. In this IPO, which opened for five days, 10 merchant bankers were kept to cross the road. Yet foreign investors did not show much interest in the IPO. However, retail investors made history by applying for the most. In this way the government was able to raise about Rs 21,000 crore.
Retail investors bid for 13.76 crore shares
Against this, 6.91 crore shares were reserved for retail investors, against which bids were received for 13.76 crore shares. It received a total of over 60 lakh applications, while Reliance Power had received 48 lakh applications for the share of retail investors in 2008. For the first time in the history of IPO in the country, such a large number of applications have been received from retail investors for an issue.
16.20 crore shares were issued
LIC had issued a total of 16.20 crore shares. In comparison, it received applications for 47.81 crore shares. However, foreign investors kept their distance from this IPO. Although the FDI rules were also changed for him, he did not show interest. As of Monday afternoon, foreign investors bid only 2 per cent for the share of institutional investors, according to Bloomberg data. Similarly, among the anchor investors, very few FIIs had bid.
Share allotment to LIC investors on May 12
The shares of the company will be allotted on May 12 to the investors who bid in LIC’s IPO. LIC shares will be listed on the stock exchanges on May 17. Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), told reporters after the end of the issue on Monday evening that LIC’s IPO has received strong support from investors across all segments.
He said that domestic investors have successfully carried out the IPO of LIC. This is an example of self-reliant India. He said that there is no longer any dependence on foreign investors. The bidders in the IPO will be allotted shares on May 12. With this, the shares of LIC will be listed on the stock exchanges on May 17.
Invest like this with SBI YONO
State Bank of India has informed its customers that customers of the bank can also invest in LIC IPO through SBI YONO app. To invest in this, first you have to open your SBI YONO app and after login, click on the investment option. By doing this you will see the option to open demat and trading. After opening this account you can easily invest in LIC IPO. It is worth noting that for the convenience of the customers, the bank is not charging any fee for opening this account.
Buy stake through paytm
One can apply for LIC IPO through Paytm Money just like SBI. For this, first go to the IPO section on the home screen of Paytm Money. If you are a policyholder, on the IPO details page, select Policyholders under ‘Investor type’. Keep in mind that PAN should be linked to LIC policy and linked to Paytm Money demat account. Now select LIC IPO option and click on ‘Current & Upcoming’ tab. After that select ‘Apply Now’ option. Now on the new page when the bid page opens, you can update the price and quantity for the application. Then update your UPI ID in the ‘Add UPI details’ section and click on apply. Information will be given on allotment.