business
How LIC shares would be allotted
May 11, 09:05

The Rs 21,000-crore LIC IPO has just closed for subscription, with the basis of allotment set to be finalised on May 12. It witnessed oversubscription in portions reserved for retail investors (35 percent), policyholders (10 percent) and employees (0.7 percent). These categories were oversubscribed 1.99, 6.11 and 4.39 times respectively on the final day. Allotment to retail investors will be through draw of lots, and on a proportionate basis for policyholders and employees. For example, since the policyholder portion was oversubscribed nearly six times, an applicant in this category will receive close to one-sixth of shares she bid for, provided the lot size and other eligibility criteria have been met.

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