New Delhi: LIC IPO subscriptions closed on May 9. Investors who had bid for IPO shares should now be eagerly ready for the allotment of IPO shares of the nation’s largest insurance coverage firm. Many bidders should even be protecting their eye on LIC IPO GMP and anticipated itemizing value forward of share allotment.
LIC IPO shares have been buying and selling at a reduction within the grey market. This might imply that traders might face a slight loss on the time of itemizing. The shares are dealing with a correction for about one week.
LIC IPO GMP
LIC IPO GMP (Grey market premium) has been falling previously few days. On May 11, the premium stood at minus Rs 8, Rs 33 down from the GMP of Rs 25 yesterday (May 10). The GMP might additional change within the coming days forward of the itemizing. It is vital to notice that the LIC IPO GMP stood at greater than Rs 90. But in the previous few days, it has been failing, owing to the market sentiments.
LIC IPO Expected Listing Price
According to market observers, LIC IPO GMP presently stands at minus Rs 8. The newest GMP means that the LIC IPO shares might listing at about Rs 941, which is Rs 949 (share value on the higher value band) minus the Rs 8 GMP. Observers recommend that the LIC IPO might witness a average to discounted itemizing.
LIC IPO Allotment Date
As of now, it’s anticipated that LIC IPO shares might be allotted on May 12, 2022.
LIC IPO Listing Date
LIC IPO shares are anticipated to listing on May 17, 2022, on public exchanges.
LIC IPO has been subscribed 2.95 occasions on the ultimate day in what might be seen as a wholesome response from the traders despite the fact that participation from the FIIs remained subdued. Also Read: Pakistan’s Economic Crisis: Pakistani rupee plunges to all-time low in opposition to US greenback
The IPO obtained bids for 47.83 crore fairness shares in opposition to 16.2 crore fairness shares on provide. The policyholder bucket has been subscribed 6.11 occasions whereas the workers portion noticed bidding of 4.39 occasions. The retail traders’ bid was subscribed 1.99 occasions and the noninstitutional traders portion was subscribed 2.91 occasions. Also Read: seventh Pay Commission: 4% DA Hike arriving in July? Check newest replace for govt staff
— With ANI inputs.