Bidding for LIC IPO (Initial Public Offering) is going on and it will be open for subscription till 9th May 2022. Two days after the opening of the public issue, LIC IPO has been subscribed 1.03 times while its retail portion has been subscribed 0.93 times. As expected, the LIC IPO has received a strong response from policyholders and employees as its policyholder share is subscribed strong 3.11 times while its employees share is subscribed 2.22 times. It seems that the gray market is closely following LIC’s IPO subscription status. According to market experts, the share price of LIC remains stable in the gray market today. He said LIC shares are available at a premium 65 in the gray market today.
lic ipo gmp today
According to market experts, lic ipo gray market premium (GMP) today is 65, unchanged from last evening’s gray market premium. According to market observers, major secondary market indices are closing near their Wednesday closing levels, which could be a possible reason for the insurance giant’s gray market premiums to remain stable. Although he said that LIC’s IPO GMP has come down from around from 90 65 level in the last three days, mainly due to negative secondary market sentiments. He expected some bounce in the gray market sentiments after the trend reversal in Dalal Street trade pattern.
what does this gmp mean
LIC IPO is today as GMP 65, it means gray market is expecting LIC IPO listing to happen 1014 level, which is about 7 percent higher than LIC’s IPO price band from 902 949 per equity share. Hence, on the third day of bidding, the gray market is trying to indicate that the bidders may interpret the listing premium from LIC IPO.
However, stock market experts advised the bidders to follow the financial position of LIC instead of gray market premium. He said gray market data is informal and non-regulated. Hence, it should not be taken seriously while making any IPO investment decision. In fact, it is a company’s balance sheet that gives a solid picture of its fundamentals.
LIC IPO Details
LIC IPO will be available for bidding till 9th May 2022 and the tentative date for LIC IPO allotment is 12th May 2022. LIC shares are proposed to be listed on BSE and NSE and LIC IPO listing date is 17th May 2022.