The Life Insurance Corporation (LIC) offer for sale saw strong demand from retail investors on Wednesday, with the retail portion subscribed 1.82 times its base issue size as of 3:43 pm. According to NSE demand data, the retail category received cumulative bids for 5.76 crore shares against a base issue size of 3.16 crore shares. Against the total retail issue size of 8.22 crore shares, the subscription stood at 0.7 times.
LIC shares were trading at Rs 393, above the OFS floor price of Rs 382. Retail investors and employees bidding at the cut-off price are eligible for a discount of Rs 10 per share, according to LIC’s earlier filing.
