LIC IPO GMP suggests discounted listing of shares! Should bidders worry? Check details

LIC IPO shares have been trading at a discount in the grey market, in what could be a setback for bidders.

New Delhi: LIC IPO subscriptions closed on May 9. Investors who had bid for IPO shares must now be eagerly waiting for the allotment of IPO shares of the country’s largest insurance company. Many bidders must also be keeping their eye on LIC IPO GMP and expected listing price ahead of share allotment.

LIC IPO shares have been trading at a discount in the grey market. This could mean that investors could face a slight loss at the time of listing. The shares are facing a correction for about one week. 

LIC IPO GMP 

LIC IPO GMP (Grey market premium) has been falling in the past 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 could further change in the coming days ahead of the listing. It is important to note that the LIC IPO GMP stood at more than Rs 90. But in the last few days, it has been failing, owing to the market sentiments. 

LIC IPO Expected Listing Price 

According to market observers, LIC IPO GMP currently stands at minus Rs 8. The latest GMP suggests that the LIC IPO shares could list at about Rs 941, which is Rs 949 (share price at the upper price band) minus the Rs 8 GMP. Observers suggest that the LIC IPO could witness a moderate to discounted listing.

LIC IPO Allotment Date 

As of now, it is expected that LIC IPO shares will be allotted on May 12, 2022. 

LIC IPO Listing Date 

LIC IPO shares are expected to list on May 17, 2022, on public exchanges. 

LIC IPO has been subscribed 2.95 times on the final day in what could be seen as a healthy response from the investors even though participation from the FIIs remained subdued. Also Read: Pakistan’s Economic Crisis: Pakistani rupee plunges to all-time low against US dollar

The IPO received bids for 47.83 crore equity shares against 16.2 crore equity shares on offer. The policyholder bucket has been subscribed 6.11 times while the employees portion saw bidding of 4.39 times. The retail investors’ bid was subscribed 1.99 times and the noninstitutional investors portion was subscribed 2.91 times. Also Read: 7th Pay Commission: 4% DA Hike arriving in July? Check latest update for govt employees

-- With ANI inputs. 

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