LIC IPO: Second day of bidding, issue subscribed 1.03 times, Policyholders 3.11 times, Staff 2.21 times, Retail 93%, QIB 40% & NII 47%

The government will sell 3.5 per cent stake entirely through offer for sale (OFS).

Out of which 10 percent shares are reserved for LIC policyholders and 0.7 percent for LIC employees.

Also, 31.25 per cent is reserved for domestic (retail) investors.

The Initial Public Offer (IPO) of Life Insurance Corporation of India (LIC), the largest in the history of Indian capital markets, is open for subscription today.

The Indian government is aiming to raise Rs 21,000 crore at the upper end of the price band by liquidating its 3.5 per cent stake in the insurance sector.

LIC IPO Day 2:Issue subscribed 1.03 times

LIC IPO Live Updates:Issue subscribed 1.02 times

Trends in Indian life insurance industry

LIC IPO Live Updates:Issue subscribed 101 percent