LIC OFS subscribed 3.32x on Day 1; Govt to exercise greenshoe option, retail bidding opens Wednesday
The Indian government's Offer for Sale (OFS) for Life Insurance Corporation (LIC) saw a 3.32x subscription on its first day, prompting the government to exercise a 4% greenshoe option. This increases the total divestment stake from 2.5% to 6.5%.
Following the strong response, the government has decided to exercise the greenshoe option of 4%. The Centre had planned to divest a 2.5% stake in the OFS, with an option to exercise the greenshoe option, taking the total divestment to 6.5%. The offer for sale (OFS) by the government in Life Insurance Corporation (LIC) received a bumper response from non-retail investors on Tuesday, August 4, the first day of the issue. BSE data showed that the OFS was subscribed 331.86%, or around 3.32 times.
Get the full story
Sign up for Headlinne to unlock AI insights, political bias analysis, and your personalized news feed.
Create free accountAlready have an account? Sign in