<p>LIC's public offer, the country's biggest-ever IPO, is off to a thumping start.</p>.<p>The shares for retailers were already oversubscribed by day three. The overall issue was subscribed 1.38 times. Against 16,20,78,067 shares on offer, 22,36,98,915 bids were received.</p>.<p>However, the Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) portions are yet to be fully subscribed.</p>.<p>Subscription for the non-institutional investors' segment stood at 76 per cent, while that for QIBs' portion was lower at 56 per cent. Retail individual investors bid for 8.53 crore shares as against 6.9 crore shares set aside for this segment -- translating into an oversubscription of 1.23 times.</p>.<p>The share allotment in this IPO will be done through drawing of lots for retail investors and on a proportionate basis for policyholders and employee category applicants.</p>.<p>"In retail category, share allotment will be done on the basis of draw of lots that means allottees will get lots through allotment or a minimum of 15 LIC shares if their application gets through the lucky draw. However, in the case of the policyholders and employees category, all applicants will be given at least some share(s) on a proportionate basis. So, one should apply as much of lots as one can if it falls under the category of LIC policyholder and employees category. By doing this, they will be able to enhance their chances of getting more LIC shares," Avinash Gorakshkar, Head of Research at Profitmart Securities <a href="https://www.livemint.com/market/ipo/lic-ipo-how-share-allotment-to-retail-investors-policyholders-and-employees-will-be-finalised-11651648752293.html" target="_blank">told</a> <em>Livemint</em>.</p>.<p>LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will get a discount of Rs 45 per equity share, while policyholders will get a discount of Rs 60 per share.</p>
<p>LIC's public offer, the country's biggest-ever IPO, is off to a thumping start.</p>.<p>The shares for retailers were already oversubscribed by day three. The overall issue was subscribed 1.38 times. Against 16,20,78,067 shares on offer, 22,36,98,915 bids were received.</p>.<p>However, the Qualified Institutional Buyer (QIB) and Non-Institutional Investor (NII) portions are yet to be fully subscribed.</p>.<p>Subscription for the non-institutional investors' segment stood at 76 per cent, while that for QIBs' portion was lower at 56 per cent. Retail individual investors bid for 8.53 crore shares as against 6.9 crore shares set aside for this segment -- translating into an oversubscription of 1.23 times.</p>.<p>The share allotment in this IPO will be done through drawing of lots for retail investors and on a proportionate basis for policyholders and employee category applicants.</p>.<p>"In retail category, share allotment will be done on the basis of draw of lots that means allottees will get lots through allotment or a minimum of 15 LIC shares if their application gets through the lucky draw. However, in the case of the policyholders and employees category, all applicants will be given at least some share(s) on a proportionate basis. So, one should apply as much of lots as one can if it falls under the category of LIC policyholder and employees category. By doing this, they will be able to enhance their chances of getting more LIC shares," Avinash Gorakshkar, Head of Research at Profitmart Securities <a href="https://www.livemint.com/market/ipo/lic-ipo-how-share-allotment-to-retail-investors-policyholders-and-employees-will-be-finalised-11651648752293.html" target="_blank">told</a> <em>Livemint</em>.</p>.<p>LIC has fixed the price band at Rs 902-949 per equity share for the issue. The offer includes a reservation for eligible employees and policyholders. The retail investors and eligible employees will get a discount of Rs 45 per equity share, while policyholders will get a discount of Rs 60 per share.</p>