Positive response for ICICI Lombard IPO

As per Stock Exchange records, the ICICI Lombard IPO received bids for 18.35 crores shares against the nearly 6.17 crores shares on offer. The IPO is an offer-for-sale (OFS) of 8.62 crores shares and from the total issue size, around 43 lakh shares are reserved for the shareholders of ICICI Bank. The QIB portion was subscribed more than 8.17 times, whereas the retail investors’ portion was subscribed 1.19 times.  Thus the overall subscription stood at nearly 2.98 times.