LIC OFS ends with retail portion undersubscribed, institutions drive demand

Retail investors bid for only 69% of the shares reserved for them, even as institutional interest prompted the government to increase the offer size

LIC’s retail offer for sale attracted strong investor interest, with the base retail issue subscribed 1.82 times. The government’s 6.5% stake sale follows robust institutional demand and will help the insurer move closer to Sebi’s minimum public shareholding requirement.