LIC IPO Listing Tomorrow; Check GMP, Share Price, Other Details Here

LIC LIPO GMP: Amidst high selloff pressure in the share markets, the Indian benchmark indices have slipped for six days in a row. The LIC IPO GMP signals a discounted listing for the biggest public issue India has ever seen.

LIC IPO GMP | New Delhi: The LIC IPO will be listed on the bourses on May 17, 2022. The LIC IPO allotment was announced on May 12, 2022. The issue was subscribed around 3 times the issue size. According to reports, the share price has been fixed at the upper limit of the price band earlier fixed by the government at Rs 949 per share. The issue is expected to fetch Rs 20,557 crore to the government.

However, amidst high selloff pressure in the share market, the LIC IPO may list at a moderate premium or a discount. The LIC IPO GMP also shows a discounted listing of the shares. The latest LIC IPO GMP shows that the shares may list at a discount of Rs 19 per share. The markets have been closing in the red for six consecutive sessions.

According to Prashanth Tapse, Vice President (Research), Mehta Equities Ltd, “Despite gloomy markets sentiments LIC Offer successfully managed to sail out with better than expected subscriptions figures led by strong demand from retail policyholders, retail investors and employees of the insurer. Unofficial grey premium is trading down into negative territory mainly on the back of depressed global markets which are in the bearish zone since Russia – Ukraine war. Selling pressure continued in domestic markets wherein FII’s have remained net seller’s FY Till Date FII sold worth -70k Cr. Considering all the parameters, we expect soft listing between +or- 5% of the offer price. Moreover LIC offer was never been considered as listing gain candidate rather it should be looked at only long term.”

He added, “Given the market sentiments still alarming and volatile following the global headlines, LIC may also trade in muted mood hence we advise allotted investors not to panic and hold it for medium to long term. Those who are planning to buy on a listing day should accumulate by taking volatility as opportunity.”

LIC IPO: Price Band, Face Value, Other Details

• LIC IPO price: The price has been fixed at Rs 949 per equity share by the government of India.
• LIC IPO size: The government aims to raise around Rs 21,000 crore from the IPO, making it the biggest IPO India has ever seen.
• LIC IPO lot size: One lot of LIC IPO comprises 15 LIC shares.
• LIC IPO application limit: One bidder could apply for a minimum of one lot whereas the maximum number of lots that were allowed for a single bidder was 14.
• LIC IPO investment limit: Minimum amount required to apply for the LIC IPO was Rs 14,235. The maximum amount allowed for a single retail investor was Rs 1,99,290.
• Discount for LIC policyholders: Policyholders got a discount of Rs 60 per equity share in the IPO.
• Discount for LIC employees: LIC employees and agents got a discount of Rs 45 per equity share.
• LIC IPO allotment date: The LIC IPO allocation was announced on May 12, 2022.
• LIC IPO listing: Shares of LIC will likely list on BSE and NSE on May 17, 2022.
• LIC IPO registrar: KFin Technologies Limited is the official registrar of LIC IPO