LIC IPO News: If the trend of decline in the stock market does not stop, then investors investing in LIC IPO may get a setback. The gray market premium is continuously decreasing before the listing of LIC shares on the stock exchange. According to Thursday’s data, LIC’s stock can be listed at a discount of up to Rs 25 from its issue price. The gray market premium of LIC IPO is now trading below Rs 25 from the upper band of its issue price.
Cold response from investors to IPO!
Due to the fall in the stock market and the apathy of the investors, the gray market premium of LIC IPO is continuously decreasing. LIC’s IPO is subscribed less than 3 times. With the continuing fall in the stock market, rising inflation, the war between Russia and Ukraine and the selling of foreign investors in the Indian markets has disturbed the mood of the market. Before the opening of LIC’s IPO, the gray market premium (GMP) had gone up to Rs 95.
IPO closed on 9th May
LIC’s IPO was open for subscription to retail investors from May 4 to 9. The price band of LIC IPO was fixed at Rs 902 to Rs 949 and Rs 20,557 crore has been raised through IPO.
Listing on stock exchange on 17th May
Shares have been allotted to the investors today and by May 16, the shares will be credited to the demat account of the investors. LIC’s IPO will be listed on the stock exchange on May 17.
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