GIC Re IPO subscribed 1.37 times, LIC accounts for over 50% of the bids

GIC Re IPO subscribed 1.37 times, LIC accounts for over 50% of the bids


The mega initial public offering (IPO) of state-owned General Insurance Corporation of India (GIC Re), India’s largest reinsurance company, garnered just 1.37 times subscription on Friday. The Rs 11,300-crore IPO, largest in seven years, saw bids worth Rs 15,440 crore, of which over half of the bids came from state-owned Life Insurance Corporation of India (LIC).  The retail portion of the IPO was subscribed 60 per cent subscription, while high networth individual (HNI) portion was subscribed just 22 per cent. The qualified institutional buyer segment (QIB) was subscribed 2.25 times.


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