The initial share sale offer of ICICI lombard General Insurance Company was oversubscribed 2.98 times at the end of the last day of bidding on Tuesday, stock exchange data showed. The initial public offer (IPO), through which the insurer is looking to raise about Rs 5,700 crore, received bids for 18,34,60,772 shares against the total issue size of 6,16,66,740 shares, as per NSE data till 1930 hrs. The category reserved for qualified institutional buyers (QIBs) was oversubscribed 8.17 times, non institutional investors 83 per cent and retail investors 1.21 times, investment banking sources said.