LIC IPO: All categories are fully subscribed, with over 200 percent of the issue already sold out.

The Life Insurance Corporation of India’s (LIC) record 21,000 crore initial public offering (IPO) was more than two times oversubscribed. Investors bid for 33.15 crore shares on the last day of subscription for India’s largest public issue, compared to 16.20 crore shares on sale, according to exchange data as of 12:12 p.m. today. The initial price range given by LIC was 902 to 949 per share.

Here’s a 10-point summary of this major story:

1. The public offer was oversubscribed in every category. Policyholders were booked 5.38 times, workers were booked 4.01 times, retail investors were booked 1.72 times, non-institutional investors were booked 1.38 times, and eligible institutional purchasers were booked 1.17 times.

2. Employees and retail investors can get a 45 percent discount on the LIC subscription. LIC policyholders will receive a 60-per-share discount.

3. On Saturday and Sunday, the state insurer’s mammoth IPO was also up for subscription.

4. The 21,000-crore value for an IPO would be the largest in Indian history. Previously, the greatest fundraises were observed in Paytm’s IPO last year, which raised 18,300 crores, and Coal India’s IPO in 2010, which raised 15,200 crores.

5. Due to the current market conditions, the country’s largest insurer cut the size of its IPO from 5% to 3.5 percent.

6. For several months, LIC has been alerting the public about the IPO through numerous platforms, including print and television commercials. It has also contacted policyholders via SMS and other forms of communication to inform them of the share sale.

7. The LIC IPO was deemed credit-positive for India’s life insurance sector by Moody’s Investors Service.

8. Despite the Reserve Bank of India and U.S. Federal Reserve. interest rate hike, demand for the IPO remained strong.

9. Prior to the IPO, the insurer had raised roughly Rs 5,627 crore from anchor investors.

10. On September 1, 1956, LIC was created by merging and nationalising 245 private life insurance firms, with an initial capital of Rs. 5 crores.