Life Insurance Corporation of India (LIC) will be listed in the stock market tomorrow i.e. on May 17. With which it will be clear whether LIC investors will gain or lose on the first day. By the way, the signals coming from the gray market are not good. According to experts who watch the gray market, today LIC is showing a discount of 19 per share in the stock. If the same trend shows in the stock market tomorrow, then investors will have to bear the loss on the first day itself.
Also read: BitCoin price jumps, Terra collapses; Check Latest Rate
What are experts saying?
Unlistedarena.com Abhay Doshi, Founder, says, “Despite the bearish situation in the market, there was a mixed response. Current status indicates discount at the time of listing. However, if the market conditions stabilize, we may see a correction till the time we get listed. Let us tell you, LIC’s IPO was open for subscription on 4th May and closed on 9th May. The Government of India is selling its 3.5% stake through this IPO.
Through LIC IPO, the government has been successful in collecting a huge fund. LIC has a market share of more than 60 percent in the insurance sector. This is the reason why all eyes are on LIC’s IPO.
LIC policy holders got a discount of Rs 60 per share from the government. At the same time, a discount of Rs 45 per share was given to retail investors and eligible employees. Let us tell you, the price band of LIC IPO was fixed from Rs 902 to Rs 949. At the same time, the allotment of shares took place on May 12.