Supreme Court refuses to interfere in LIC IPO

  • The LIC IPO will be listed on the bourses on May 17 subject to regulatory approvals

Supreme Court on Thursday refused to grant interim relief to a matter related to LIC IPO, and issues notice to Centre on petitions challenging the constitutional validity of provisions of certain sections of Finance Act, 2021 and LIC Act 1956.
The LIC IPO will be listed on the bourses on May 17 subject to regulatory approvals. The issue has been subscribed 2.95 times on the final day in what could be seen as a healthy response from the investors even though participation from the FIIs remained subdued. 47.83 crore equity shares were received against an IPO size of 16.2 crore equity shares. The policyholder bucket has been subscribed 6.11 times while the employees portion saw bidding of 4.39 times. The retail investors’ bid was subscribed 1.99 times and the noninstitutional investors portion was subscribed 2.91 times.
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