11 May , 2022 By : Kanchan Joshi
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 discount of Rs8 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 Rs8, Rs33 lower from its yesterday's grey market premium of Rs25. They said that ahead of LIC IPO subscription opening date, LIC IPO GMP surged up to Rs92. However, it started falling from there onwards as market sentiment across global markets became negative.
What this GMP mean?
Market observers said that LIC IPO GMP today is minus Rs8, which means grey market is expecting that LIC IPO listing may take place around Rs941 ( Rs949 - Rs8). 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, Rs21,000 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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