IPO INSURED

The mega public issue of LIC was comfortably oversubscribed—2.95 times, to be precise—but the impact of the volatile markets was clearly visible. The insurance giant had to significantly reduce the IPO size from the earlier estimated `60,000 crore to `21,000 crore. Interestingly, the portion reserved for policyholders was subscribed over six times while that for employees was subscribed 4.4 times. The segments for institutional and high net worth individuals were subscribed 2.83 times and 2.91 times, respectively.