LIC IPO: Haven't been been allotted shares? Know how to check money refund status

New Delhi: After the initial public offering (IPO) of Life Insurance Corporation of India (LIC) closed on Monday (May 09), the share allotment was made yesterday, May 12.

Some lucky subscribers got the share allotment while those who did not get an allotment, the refunds have started processing.

Messages have started pouring to the LIC IPO subscribers, expressing regret on Un-successful allotment due to over-subscription of the IPO.

However, you must also verify the contents of the message. In case the securities have not been credited to your beneficiary A/C (DPID and Client ID) or amount to be unblocked, if any, has not been unblocked in your bank account, you could contact your provider for further reference.

Meanwhile, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey had previously indicated that the applicants who get an allotment will get the shares. The stocks will be there in the Demat accounts of those before May 17.

Following a 6-day bidding process that opened on May 04, the LIC IPO was subscribed 2.95 times on the final day. The policyholder bucket was subscribed 6.11 times while the employees portion saw bidding of 4.39 times. The retail investors` bid was subscribed 1.99 times and the non-institutional investors portion was subscribed 2.91 times.