New Delhi: LIC IPO GMP appears to be improving on day five of the offer on Sunday, May 8, 2022. The Life Insurance Corporation of India (LIC) opened its mega-initial public offering (IPO) on May 4, in what is touted as the largest IPO by an Indian company. So far, the IPO has received strong demand from retail investors, policyholders and employees. However, it appears to be failing to attract QIBs, as of now.
On the fourth day of bidding, the IPO was subscribed 1.66 times. The IPO will remain open on day five of the offer on Sunday, May 8, to let interested investors place their bids.
LIC IPO Latest GMP
LIC IPO GMP (grey market premium) stood at Rs 50 on May 7, according to market watchers. The LIC IPO’s GMP has been lowered slightly after the recent sell-off in the secondary markets.
However, the GMP has now started to get better as it stood at Rs 45 on May 6. In the coming days ahead of the IPO, the premium could further increase, with the rising demand for IPO shares.
LIC IPO Expected Listing Price
The GMP suggests that LIC IPO shares could list at Rs 1,009 at the higher end of the price band (Rs 949), meaning that allottees could receive a 6% gain with the listing of shares on public exchanges.
LIC IPO Subscription Status
On Saturday, LIC IPO saw full subscription of its non-institutional investor (NII) segment, which previously had shown a tepid response. Meanwhile, “the portion reserved for eligible policy holders was subscribed 4.67 times, reservation for eligible employees was subscribed 3.54 times, retail category was subscribed 1.46 times, the non-institutional category witnessed a subscription of 1.08 times and the qualified institutional buyers category saw subscription of 0.67 times,” IANS reported. Also Read: Google boss Sundar Pichai finally reveals name of Chennai school where he went to
Should you subscribe to LIC IPO now?
Most of the leading brokerage firms such as Motilal Oswal, Reliance Securities, LKP Securities, Hem Securities, and Angel One, among others, are recommending investors to subscribe to the LIC IPO. FM Sitharaman says RBI's rate hike not a surprise, calls it part of synchronised event globally
#mute
