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.