LIC IPO Subscribed 2.9 Times, Receives Bids For Over 47 Crore Equity Shares

After the last day bidding, Life Insurance Corporation's Initial Public Offering (IPO) has been subscribed 2.9 times, on May 9. Reportedly, bids have been received for over 47 crore equity shares, against the 16.2 crore equity shares offered for sale. Notably, policyholders bought shares for a discount of Rs 60 per equity share, while the discount was Rs 45 per equity share for retail investors and employees.