LIC IPO GMP Improves Today But Still Negative; Listing Likely On May 17; Check Key Details


The LIC IPO, the nation’s greatest public supply that was open for subscription between May 4 and May 9, witnessed a constructive response from the market and was oversubscribed, with 2.95 instances subscription. However, the corporate’s grey market premium (GMP) is indicating a lacklustre itemizingwhich is more likely to happen on May 17. The share allotment is already full on May 12.

The Latest LIC IPO GMP

The firm’s unlisted shares are at the moment buying and selling at Rs 936 apiece on Sunday, which is Rs 13 decrease than the higher restrict of the IPO value band, in accordance with the newest GMP value accessible on chanakyanipothi.com. This is the fifth consecutive day when the LIC IPO GMP is in unfavourable territory. The value band for the LIC IPO was mounted at Rs 902-Rs 949 per fairness share.

The present grey market premium (GMP) of minus Rs 13 is, nevertheless, higher than the minus Rs 20 recorded on Saturday. The GMP was minus Rs 25 on Friday. The pattern exhibits bettering sentiments on the corporate’s shares.

An IPO grey market is one the place an organization’s shares are bid and supplied by merchants unofficially. This takes place earlier than the corporate’s shares are even listed on the inventory exchanges. Gray market premium is the additional quantity traders are able to pay for the corporate’s shares. However, a unfavourable GMP exhibits the unfavourable sentiment of traders in direction of the shares.

About LIC IPO

LIC’s preliminary public providing (IPO) obtained 2.95 instances subscription on the ultimate day of bidding, with the portion reserved for certified institutional consumers (QIBs) totally booked. The bids obtained have been 47.83 crore towards the supply dimension of 16.21 crore. The LIC IPO’s value band was mounted at Rs 902-949 per share and the corporate supplied a reduction of Rs 60 per share for its policyholders and Rs 45 apiece for retail traders and LIC staff.

Eligible traders are anticipated to see the shares credited on May 16 and the corporate is more likely to see the itemizing on inventory exchanges on May 17. LIC finalized the share allotment on Thursday.

LIC IPO created a document with the variety of purposes for the inventory of the nation’s insurance coverage behemoth crossing 5.9 million on May 8. The portion reserved for retail traders was totally subscribed on the third day and 1.59 instances by the top of the fifth day of subscription . The challenge has lastly obtained 13.8 crore bids from retail particular person traders, towards 6.9 crore shares put aside for them.

The much-awaited IPO was an incredible success and the difficulty was subscribed practically 3 instances on the shut, DIPAM Secretary Tuhin Kanta Pandey has stated. “We are happy to tell you that the IPO supply which began on the 4th of May has closed right this moment at 7 pm and it has met with large success from all classes of traders; it will ultimately result in the itemizing of LIC and deepen the capital market.”

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