LIC IPO booked 67% on day 1; policyholder share subscribed 1.99 times

LIC IPO was subscribed 67% on the first day of bidding on Wednesday, with investors bidding for 10.8 crore shares, compared with the total 16.2 crore shares on offer. While the policyholders' share was subscribed 1.99 times, employees' portion was subscribed 1.17 times. "The demand seems to be quite good...RBI rate hike...will have a limited impact," an expert told Reuters.