Despite the global volatility and volatility in the market, there was tremendous enthusiasm among the domestic investors regarding the IPO of Life Insurance Corporation of India. 47.83 crore applications have been received for 16.2 crore shares.
This means that three times more people have applied to buy shares. LIC’s IPO was brought on May 4 last and on May 9 i.e. Monday was the last date to apply.
TK Pandey, secretary of DIPAM Department of the Ministry of Finance, which handled the responsibility of LIC IPO, termed the IPO of LIC as the IPO of self-reliant India. He told that by May 12, LIC’s IPO will be allotted and the applicants who will not be allotted IPO, their money will be sent back to their account. PLC>
