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The subscription period for India’s largest initial public offering has ended and all eyes will be on LIC’s IPO share allotment. DIPAM Secretary Tuhin Kanta Pandey said the initial sale of the insurance giant’s shares had been hugely successful across all segments.

“Domestic investors have made a success of LIC’s IPO. This is an example of Aatmanirbhar Bharat,” he said.

The LIC IPO was oversubscribed 2.95 times on the last day of the offering period on Monday, helping the government raise around Rs 21,000 crore.

So far, the amount raised from Paytm IPO in 2021 was the largest ever at Rs 18,300 crore, followed by Coal India (2010) at almost Rs 15,500 crore and Reliance Power (2008) at Rs 11,700 crore.


Bidders to the LIC IPO will be awarded shares on May 12. “The allocation to investors of the IPO will be on May 12,” said the secretary of DIPAM.

LIC’s shares will go public on May 17.


Those who have applied for the IPO LIC can check the status of their applications.

You must enter the problem type details, problem name, request number, permanent account number (PAN) details.


Against 16,20,78,067 shares offered, 47,83,25,760 offers were received.

The Qualified Institutional Buyers (QIBs) category was subscribed 2.83 times. No less than 11.20 crores of offers were received for the 3.95 crores of shares reserved for the segment.

As for Non-Institutional Investors (NII), a total of 8,61,93,060 bids were received for 2,96,48,427 shares reserved for the class, reflecting a subscription of 2.91 times.

Individual retail investors offered 13.77 crores of shares versus 6.9 crores of shares offered for the segment, which translates to a 1.99 times oversubscription.

The share of policyholders was subscribed just over 6 times, while that of employees was subscribed 4.4 times.

LIC had set the price range at Rs 902-949 per share for the issuance. The offer included a reservation for eligible employees and policyholders. Retail investors and eligible employees got a rebate of Rs 45 per share, while policyholders got a rebate of Rs 60 per share.

The government has diluted a 3.5% stake in the insurance giant through the offer for sale (OFS).

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