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LIC IPO: LIC shares are trading at a premium in gray market, policyholders will get such a discount

Connexionblog by Connexionblog
April 28, 2022
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LIC IPO: LIC shares are trading at a premium in gray market, policyholders will get such a discount
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Life Insurance Corporation of India (Life Insurance Corporation) Initial Public Offering of Insurance Company of (IPO) is going to knock in the primary market next month. According to the information available on the official website of BSE, LIC’s IPO will open for subscription on May 4 and will close on May 9, 2022. Government of India LIC IPO (LIC IPO) has fixed the price band of Rs 902-949 per share. Before the opening of the IPO, trading of LIC’s shares has started in the gray market. According to market observers, today LIC’s stock is trading with a premium of Rs 20 in the gray market.

However, the gray market premium of LIC IPO on Wednesday is Rs 28 today, which is Rs 28 less than the gray market premium on Wednesday. LIC had entered the gray market on Monday. Then its gray market premium was Rs 25. The GMP of LIC IPO today is Rs 20. This means that the gray market is expecting the LIC IPO listing to be around Rs 969. The price band of LIC IPO is almost 2 per cent higher than Rs 949 per share.

However, stock market experts say that the gray market premium is not the right criterion to ascertain whether an IPO will outperform or not. He advised investors to go through the balance sheet of LIC instead of just following the GMP.

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