LIC IPO to be listed on stock exchanges on May 17; check GMP, share price, other details here

Life Insurance Corporation of India (LIC) initial public offer (IPO) will be listed on the stock exchanges on Tuesday. The LIC stock may have a moderate to discounted listing on May 17 as per market trends. Read more here.

By Sugandha Jha
Mon, 16 May 2022 01:18 PM IST
Minute Read
LIC IPO to be listed on stock exchanges on May 17; check GMP, share price, other details here
LIC IPO Listing

New Delhi | Jagran Business Desk: The Life Insurance Corporation of India (LIC) initial public offer (IPO) will be listed on the stock exchanges on Tuesday (May 17). The LIC IPO allotment was done on May 12, 2022 for the issue which was oversubscribed nearly three times. The price of the LIC share has been fixed at the upper limit of the price band at Rs 949 by the government. The Centre is expected to raise Rs 20,557 crore through this issue.

However, going by the market trends, the LIC stock may have a moderate to discounted listing on May 17 as LIC shares continue to trade at a discount of Rs 19 in the grey market on Monday. The market has been closing in the red for six consecutive sessions building high selloff pressure in the share market.

Explaining the market dynamics Prashanth Tapse, Vice President (Research), Mehta Equities Ltd said as quoted by India.com, “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.”

“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," he added.

LIC IPO: Share Price, listing date, and other details

LIC IPO price: Rs 949 per equity share
LIC IPO Issue size: Rs 21,000 crore
LIC IPO lot size: 1 lot = 15 LIC shares
LIC IPO application limit: 14 lot
LIC IPO investment limit: Minimum = Rs 14,235, Maximum Rs. Rs 1,99,290.
LIC IPO listing: May 17
LIC IPO allotment date: May 12

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