Lic Ipo: Gmp (grey Market Premium ) Falls Nearly 90% In One Week
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LIC IPO: Subscription for the public issue of insurance behemoth ended on 9th May 2022 and bidders are eagerly waiting for announcement of share allocation. LIC IPO allotment date is most likely on 12th May 2022. So, applicants are anxiously waiting for beginning of the share allotment process. Meanwhile, LIC IPO GMP (grey market premium) has been continuously correcting for near one week. According to market observers, LIC shares are quoting at a discounted price of ₹8 in grey market today.
LIC IPO GMP today
Market observers said that due to weak sentiments at secondary markets, LIC IPO grey market premium (GMP) has been nosediving for near one week and now it has slipped into red zone. They said that LIC IPO GMP today is minus ₹8, ₹33 lower from its yesterday’s grey market premium of ₹25. They said that ahead of LIC IPO subscription opening date, LIC IPO GMP surged up to ₹92. However, it started falling from there onwards as market sentiment across global markets became negative. So, in last one week, LIC IPO GMP has fallen around 90 per cent, market observers said.
What this GMP mean?
Market observers said that LIC IPO GMP today is minus ₹8, which means grey market is expecting that LIC IPO listing may take place around ₹941 ( ₹949 – ₹8). So, grey market is trying to signal that the LIC IPO may have a moderate to discounted listing.
LIC IPO details
In 6 days bidding, ₹21,000 crore public issue got subscribed 2.95 times whereas its retail portion was subscribed 1.99 times. Policyholder portion of the LIC IPO got subscribed 6.12 times while employees portion got subscribed 4.40 times.
Most likely LIC IPO listing date is 17th May 2022 whereas expected LIC IPO allotment date is 12th May 2022.
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