Biggest IPO in Indian Markets: LIC IPO subscription status on Day 1
The biggest initial public offering (IPO) in the history of Indian markets, LIC IPO was subscribed 67 percent on May 4, the first day of bidding. The LIC policyholders lead initial bout of buying in insurer's IPO as they have subscribed 1.99 times the portion reserved for them. The employee reserved portion has been subscribed 117 percent, while retail investors portion has been subscribed 60 percent. Non Institutional investors have subscribed 27 percent of their portion while qualified institutional buyers bought 33 percent of allotted quota of 3.95 crore shares, till now.