The Reserve Financial institution of India (RBI) mentioned that financial institution branches with ASBA facility will stay open for LIC’s preliminary public providing (IPO) on Sunday as effectively. The ASBA account has the power of supported functions with the quantity blocked. RBI mentioned in a press release that the federal government had requested all ASBA branches to be opened on Sunday, Might 8, for processing LIC’s IPO functions. After reviewing it, it has been determined to open financial institution branches with ASBA facility on Sunday (Might 8) additionally. Normally buyers apply for IPO via ASBA. Allow us to let you know that the IPO of LIC will shut on Might 9 and bids for this may also be positioned on Might 7. The federal government goals to boost Rs 21,000 crore by promoting 3.5 per cent of its shares. Day 1 Response: The IPO obtained 67 % subscription on the primary day on Wednesday. As per inventory alternate knowledge, out of the overall subject, the policyholders’ share obtained subscribed 1.9 occasions. There was no important response thus far for the Certified Institutional Patrons (QIBs) and non-institutional patrons section. Learn Associated Information – How was the primary day of LIC IPO in a sell-off surroundings? CHECK DETAILS On the primary day, 33 per cent of the QIBs and 27 per cent of the non-institutional patrons have been subscribed. The retail buyers class acquired round 60 per cent subscription.