IPO of LIC hits market with price band of Rs 902 to 949 per equity share

The Life Insurance Corporation (LIC) launched its much-anticipated Initial Public Offering (IPO) on Wednesday, with a price range of Rs 902 to 949 per equity share.

In the grey market, LIC has also seen a 9 percent premium over its upper price band as the Rs 21,000-crore. According to NSE data, the business issue was subscribed 0.18 times, the policyholder part 0.48 times, and the employee component 0.38 times.

Apart from these, qualified institutional buyers (QIBs) were subscribed 0.00 times, non-institutional investors 0.04 times, and the retail segment 0.24 times. Investors interested in subscribing to the LIC IPO might do so in lots of 15 equity shares and then in multiples.

According to statistics from IPO Watch and IPO Wala, LIC traded in the grey market on Wednesday at a premium of Rs 85 per share, up from Rs 45 on Thursday.