India’s biggest-ever initial public offering (IPO), by Life Insurance Corp (LIC), has been fully booked under all categories.
The portion set for policyholders was booked 6.11 times, employees by 4.39 times, retail investors by 1.99 times, non-institutional investors by 2.91 times, and qualified institutional buyers (QIB) by 2.83 times. The government will raise ₹ 21,000 crores from selling a 3.5 percent stake in the country’s top insurer. This is only a third of the original target fixed by the government.