LIC IPO fully subscribed on day 2 of opening; offer closes on May 9

Sees participation from 3.6 mn individual investors; policyholders lead

State-owned Life Insurance Corporation of India’s (LIC’s) initial public offering (IPO), the largest ever in the domestic market, was fully subscribed on Thursday -- the second day of the issue.

The IPO, which will remain open till Monday, has so far generated bids worth Rs 20,744 crore, including the Rs 5,628 crore raised from anchor investors. Small investors have poured in over Rs 12,000 crore in the IPO. Sources said the issue had seen participation from 3.6 million individual investors from across India and expectations were that the total applications figure would hit a record 10 million.

At the end of day