LIC IPO: if you too LIC If you have invested money in IPO then there is important news for you. Tomorrow, i.e. on May 17, the listing of the country’s largest LIC IPO is to be held. Earlier, bad news is coming out for the successful investors in the IPO. The premium (GMP) of LIC IPO in the gray market has fallen further before listing, indicating a discounted listing.
LIC is at a discount of up to Rs 25 from its issue price of Rs 949 per share in the gray market. That is, it is only Rs 20 more than the discount rate received by retail investors in the IPO. If LIC’s premium comes down further in the gray market, then investors may suffer. GMP is indicating that investors may incur losses on the very first day.
Meanwhile, LIC’s market cap is likely to be more than Rs 6 lakh crore even after discount listing on BSE and NSE. If this happens, then LIC will become the fifth largest public company in the country as soon as it is listed in the market. In terms of market cap i.e. valuation, only Reliance Industries, TCS, HDFC Bank and Infosys will remain ahead of the government insurance company.
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It is worth noting that on May 4, the last day of subscription for this IPO, which opened for retail and other investors, was on May 9. In India’s biggest IPO, 16 crore 20 lakh 78 thousand 67 shares were offered and 47 crore 83 lakh 25 thousand 760 bids were received for them. The IPO was subscribed 6.12 times in the policyholders category.
Similarly, the portion reserved for LIC employees was subscribed 4.4 times. The share of retail investors was also subscribed 1.99 times. In addition, the portion earmarked for QIBs was subscribed 2.83 times and NII portion subscribed 2.91 times. Overall, LIC IPO got 2.95 times subscription.
According to stock market experts, LIC’s stock can reach Rs 2,000 in a year. In this case, it should be held for at least one year. Also, these people say that the longer you hold it, the more beneficial it will prove to be.
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first published:May 16, 2022, 1:35 p.m.
