TRENDINGLIC OFS subscribed 3.32x on Day 1; Govt to exercise greenshoe option, retail bidding opens WednesdayRajasthan HC grants 20-day parole to self-styled 'godman' AsaramAAP protest E20 petrol policy: Kejriwal, Sisodia stage sit-in after march to PM Modi's residence stoppedSunny Deol faces BACKLASH after opening up about Dharmendra referring to Pakistan as 'Mousi' ahead of 'Batwara 1947'iPhone 18 Pro Max launch: 6 reasons to upgrade or wait for it'Had no time to flee': Drone strikes Russian Black Sea beach, kills 7 including 3 children, injures 40Ensure every road has encroachment-free pedestrian space: SC to CentreIran, Oman close to deal on new Strait of Hormuz shipping route, says TehranSonam Wangchuk's wife Gitanjali Angmo takes a dig at Bollywood after watching Christopher Nolan's 'The Odyssey', calls it a surreal experience: 'Cinema is more than entertainment'Glasgow restaurant to correct India map after Lovlina Borgohain raises Northeast issueLIC OFS subscribed 3.32x on Day 1; Govt to exercise greenshoe option, retail bidding opens WednesdayRajasthan HC grants 20-day parole to self-styled 'godman' AsaramAAP protest E20 petrol policy: Kejriwal, Sisodia stage sit-in after march to PM Modi's residence stoppedSunny Deol faces BACKLASH after opening up about Dharmendra referring to Pakistan as 'Mousi' ahead of 'Batwara 1947'iPhone 18 Pro Max launch: 6 reasons to upgrade or wait for it'Had no time to flee': Drone strikes Russian Black Sea beach, kills 7 including 3 children, injures 40Ensure every road has encroachment-free pedestrian space: SC to CentreIran, Oman close to deal on new Strait of Hormuz shipping route, says TehranSonam Wangchuk's wife Gitanjali Angmo takes a dig at Bollywood after watching Christopher Nolan's 'The Odyssey', calls it a surreal experience: 'Cinema is more than entertainment'Glasgow restaurant to correct India map after Lovlina Borgohain raises Northeast issue

LIC OFS subscribed 3.32x on Day 1; Govt to exercise greenshoe option, retail bidding opens Wednesday

The government's offer for sale in Life Insurance Corporation received a strong response from non-retail investors on the first day. The issue was subscribed 3.32 times.

CJPN24 Newsroom3 min read
People bidding for shares in the Life Insurance Corporation offer for sale
People bidding for shares in the Life Insurance Corporation offer for sale
Share:

Highlights

  • OFS subscribed 3.32 times on Day 1
  • Government to exercise greenshoe option
  • Retail bidding opens on Wednesday
  • Total divestment to increase to 6.5%

The offer for sale by the government in Life Insurance Corporation received a bumper response from non-retail investors on the first day of the issue. According to data, the OFS was subscribed 331.86%, or around 3.32 times. This strong response is a positive sign for the government's divestment plans. The government had planned to divest a 2.5% stake in the OFS, with an option to exercise the greenshoe option, taking the total divestment to 6.5%. Following the strong response, the government has decided to exercise the greenshoe option of 4%.

The decision to exercise the greenshoe option is a result of the overwhelming response from non-retail investors. The greenshoe option allows the government to sell additional shares, increasing the total divestment. This move is expected to bring in more revenue for the government. The strong response from non-retail investors is a testament to the confidence in the company.

The offer for sale is a key part of the government's divestment plans. The government aims to raise funds through the sale of shares in public sector companies. The response to the OFS in Life Insurance Corporation is a positive sign for the government's plans. The strong demand from non-retail investors is expected to continue, with retail bidding set to open on Wednesday.

Retail investors will have the opportunity to bid for shares in the OFS on Wednesday. The strong response from non-retail investors is expected to continue, with retail investors also showing interest in the issue. The government's decision to exercise the greenshoe option is a result of the overwhelming response from non-retail investors.

The greenshoe option is a common practice in share sales, allowing the seller to sell additional shares if there is strong demand. In this case, the government has decided to exercise the greenshoe option, increasing the total divestment to 6.5%. The strong response from non-retail investors is a testament to the confidence in the company.

The offer for sale in Life Insurance Corporation is a key part of the government's divestment plans. The government aims to raise funds through the sale of shares in public sector companies. The response to the OFS in Life Insurance Corporation is a positive sign for the government's plans. The strong demand from non-retail investors is expected to continue, with retail investors also showing interest in the issue.

The decision to exercise the greenshoe option is a result of the overwhelming response from non-retail investors. The government's divestment plans are expected to bring in significant revenue. The strong response from non-retail investors is a positive sign for the government's plans. The offer for sale in Life Insurance Corporation is a key part of the government's divestment plans.

The government's decision to exercise the greenshoe option is a result of the strong response from non-retail investors. The greenshoe option allows the government to sell additional shares, increasing the total divestment. This move is expected to bring in more revenue for the government. The strong response from non-retail investors is a testament to the confidence in the company. The offer for sale in Life Insurance Corporation is a key part of the government's divestment plans.

Originally reported by Upstox.

Share:
CJPN24 Newsroom

editor

Editorial newsroom of CJPN24. Aggregates and publishes breaking news, politics, business, technology, sports, and entertainment updates with clear source attribution.

Comments

Comments section coming soon. Share your thoughts on our social media pages.