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The initial public offering (IPO) of Life Insurance Corporation (LIC) — India’s largest-ever for the domestic markets is going vocal for locals! 
The Rs 21,000-crore IPO has seen a muted response from the foreign investors.
According to a report by Bloomberg, the foreign institutional funds have put orders for only 2 per cent of the shares set aside for the institutional buyers. Most of the investment has been done by domestic investors.
LIC IPO: Issue subscribed 2.28 times on final day
The initial public offering of Life Insurance Corporation of India has received healthy response from investors as the offer has subscribed 2.28 times, receiving bids for 37.01 crore equity shares against IPO size of 16.2 crore equity shares.
The portion set aside for policyholders has been subscribed 5.53 times, employees bid 4.10 times the allotted quota and retail investors 1.77 times, while the reserved portion of qualified institutional buyers has booked 1.67 times and that of non-institutional investors 1.77 times.
The LIC IPO will list on the bourses on May 17 and the allotment of the shares will be announced on May 12. 

LIC IPO: Locals are vocal, FIIs not gushing

Foreign Investors showed less interest in LIC IPO, full report here


Most of the bidding for the shares has been done by domestic investors. We look at 3 reasons for the same.

The initial public offering (IPO) of Life Insurance Corporation (LIC) &mdash; India&rsquo;s largest-ever for the domestic markets has seen a loud cheer of vocals from the locals but the Rs 21,000-crore IPO has seen a muted response from the foreign investors.
As per the data available at the time of writing this copy, foreign institutional funds have put in orders for merely 8% of the shares set aside for all institutional buyers. Even if you analyse the anchor investors' portfolio, 70% of the Rs 5600 cr anchor book was only domestic investors. However the IPO&nbsp;did draw in some interest from&nbsp;sovereign funds from Norway and Singapore.
Foreign investors shying away from the LIC&nbsp;IPO&nbsp;is also a reflection of the current market scenario, where FPIs&nbsp;have been sellers in the Indian equity market for the last 7 months. In fact in just the last 4 months, foreign funds have pulled out $17.7 billion from the Indian markets.&nbsp;
The <a href="https://www.editorji.com/business-news/lic-ipo-listing-tomorrow-what-does-the-grey-market-say-1652672129856" target="_blank">LIC IPO</a> will list on the bourses on May 17 and the allotment of the shares will be announced on May 12.&nbsp;

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