LIC Stake Sale Draws 3.32 Times Demand, Triggering Greenshoe Option
Updated
Updated · linkedin · Aug 4
LIC Stake Sale Draws 3.32 Times Demand, Triggering Greenshoe Option
3 articles · Updated · linkedin · Aug 4
Summary
Institutional investors subscribed 3.32 times the LIC shares on offer on the first day of the government’s stake sale, giving the issue a strong start.
That demand prompted the government to exercise the greenshoe option, expanding the sale as it seeks to raise more from the offering.
The retail portion of the LIC offer for sale opens tomorrow, extending the divestment beyond institutional buyers.
Rs 27,568 crore had already been collected in the government’s disinvestment kitty as of July 29, and the LIC sale is set to provide a significant further boost.