This share is available at a discount of Rs 20.
There is a mega listing of LIC IPO on Tuesday. It is available in gray market at a discount of Rs.20. Today the market has closed sharply after a continuous decline of six days. With the sentiment improving, the chances of listing at a premium have increased.
on Tuesday LIC IPO ,LIC IPO listing) is about to be listed. The eyes of the entire market and investor community will be on this listing. Overall, this IPO got three times subscription. 6 times subscription has been received in the highest policy holders segment. The retail segment has also got double subscription. LIC’s stock is under pressure in the gray market and it is available at a discount. In the gray market, LIC’s IPO is available at a discount of Rs 15-20. This discount is in comparison to Rs 949. However, it is still a win-win deal for retail and policy holders as retail investors got a discount of Rs 45 and policy holders Rs 60.
Market experts say that if someone had invested in this IPO in terms of listing gains, then such investors would be disappointed. There is volatility in the market right now and this IPO did not get the expected response. In such a situation, there is still a situation of pressure on this stock and stock market.
This stock is available at a discount in the gray market
In a report published in Mint, Abhay Doshi, founder of Unlisted Arena, said that the gray market is suggesting that this IPO will be listed at a discount or close to its issue price. The valuation of the stock is very attractive, but the market sentiment is so weak that it has not been able to entice the investors as expected.
Today there has been a slight improvement in the sentiment
He said that if the market sentiment improves even a little, then tomorrow this IPO can be listed with gains. Today the Sensex recorded a rise of 180 points. After a continuous decline of six days, the market has closed today. In such a situation, the sentiment has definitely got some strength. Abhay said that if retail and HNI withdraw, then the pressure on the stock may increase.
Price Range Between Rs 902-949
LIC had fixed a price range of Rs 902-949 per share for the issue, which opened on May 4. In this, apart from keeping some shares reserved for eligible policyholders and employees, they were also given exemption. The government has decided to sell its 3.5 per cent stake in LIC through this issue. This IPO is worth Rs.20557 crore. A discount of Rs 60 was offered to policy holders of Rs 45 to retail investors and Rs 45 to employees.