<p>LIC's public offer, the country's biggest-ever IPO, was fully subscribed on the second day of bidding on Thursday.</p>.<p>Against 16,20,78,067 shares on offer, 16,25,35,125 bids were received, making the public issue fully subscribed, as per data on stock exchanges as of 6.24 pm.</p>.<p>Of the total, the policyholders' portion was subscribed a little over three times, while that for employees was subscribed 2.14 times.</p>.<p>Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) portion has received a tepid response so far. Non-institutional investors' segment was subscribed 46 per cent, while QIBs' portion was slightly lower at 40 per cent.</p>.<p>Retail individual investors picked up nearly 91 per cent of the 6.9 crore shares set aside for this segment.</p>.<p>The initial public offering (IPO) will close on May 9.</p>.<p>The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth.</p>.<p>LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will get a discount of Rs 45 per equity share, while policyholders will get a discount of Rs 60 per share.</p>.<p>The share sale is through an offer-for-sale (OFS) of up to 22.13 crore equity shares. The shares are likely to be listed on May 17. </p>
<p>LIC's public offer, the country's biggest-ever IPO, was fully subscribed on the second day of bidding on Thursday.</p>.<p>Against 16,20,78,067 shares on offer, 16,25,35,125 bids were received, making the public issue fully subscribed, as per data on stock exchanges as of 6.24 pm.</p>.<p>Of the total, the policyholders' portion was subscribed a little over three times, while that for employees was subscribed 2.14 times.</p>.<p>Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) portion has received a tepid response so far. Non-institutional investors' segment was subscribed 46 per cent, while QIBs' portion was slightly lower at 40 per cent.</p>.<p>Retail individual investors picked up nearly 91 per cent of the 6.9 crore shares set aside for this segment.</p>.<p>The initial public offering (IPO) will close on May 9.</p>.<p>The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth.</p>.<p>LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will get a discount of Rs 45 per equity share, while policyholders will get a discount of Rs 60 per share.</p>.<p>The share sale is through an offer-for-sale (OFS) of up to 22.13 crore equity shares. The shares are likely to be listed on May 17. </p>