SBI QIP: LIC, the country’s largest insurance company, won the most shares under the largest QIP issue of SBI, the largest bank in the public sector. SBI released the list of allotment of shares in the exchange filing on the night of Monday 21 July. This revealed that under the issue of ₹ 25000 crore, the maximum number of 20% shares have been released to LIC. These shares have been released at a price of ₹ 817 per share. On Monday, the stock on BSE closed at a slight increase of 0.11% at a price of ₹ 824.20.
LIC already has many shares of SBI
According to what SBI has revealed in the exchange filing, LIC has received 20% share under QIP of ₹ 25000 crore under the QIP issue. Under several schemes, LIC has received shares of ₹ 5000 crore. It is not that for the first time LIC has placed SBI shares in its portfolio. Rather, LIC holds 9.2% in SBI by June 2025. Now LIC’s share has increased further through QIP.
About 50% shares under SBI QIP allotted to five
SBI has released 30.59 crore shares under the QIP issue of ₹ 25000 crore to the institutional investors at a price of ₹ 817. This issue received strong response from domestic and foreign investors. About half of this got only five funds. Under the issue, LIC got 20% shares for ₹ 5,000 crore. Apart from this, the Society General got 10.37% shares for ₹ 2,592 crore, HDFC Life Insurance received 6% shares for ₹ 1,500 crore, HDFC Mutual Fund got 5.2% shares for ₹ 1,300 crore and Quant Mutual Fund 5.08% in ₹ 1,270 crore.