All eyes are on LIC’s Initial Public Offering (IPO) in the stock market at this time. But investors are going to get three new investment opportunities this week. These include the IPOs of Prudent Corporate Advisory Services, Delhivery and Venus Pipes & Tubes Ltd. The total size of these IPOs will be Rs 6,000 crore. If you have missed out on participating in LIC’s IPO, then there is a chance left for you in these IPOs.
First of all, the IPO of Prudent Corporate Advisory Services will come. will open. This IPO will open on May 10, while the IPOs of Delhivery and Venus Pipes & Tubes will open on May 11. The IPO size of Prudent Corporate is Rs 538.61 crore. While the IPO of Venus Pipes & Tubes will be Rs 165.42 crore and the IPO of Delhivery will be Rs 5,235 crore.
LIC’s IPO gets full bids from non-institutional investors category
The portion reserved for non-institutional investors in LIC’s IPO has been fully subscribed. A total of 2,96,48,427 shares were reserved for non-institutional investors under the issue. In comparison, a total of 3,06,73,020 bids were received. There is still one day left for this issue to close. According to the data received from the stock exchanges, LIC’s IPO has been subscribed 1.59 times so far.
However, the shares reserved for Qualified Institutional Buyers (QIBs) are yet to be fully bought out. So far only 0.67 per cent of the shares in this segment have been bought. A total of 9.57 crore bids have been received for 6.9 crore reserved shares in the retail investor segment. Thus the retail investor segment is subscribed 1.38 times. The segment reserved for policyholders of LIC has been subscribed 4.4 times and the section reserved for employees 3.4 times so far.
Foreign investors pulled out Rs 6,400 crore
Foreign portfolio investors (FPIs) have withdrawn more than Rs 6,400 crore from the Indian stock markets in the first four trading sessions of the current month i.e. May. Last week, the Reserve Bank of India and the US central bank Federal Reserve increased interest rates, which has had an impact on the attitude of FPIs.
LIC IPO: LIC IPO got 1.79 times subscription on Sunday, can bid till tomorrow
Shrikant Chauhan, Head of Equity Research (Retail), Kotak Securities said, “FPI inflows will remain volatile in the near future due to higher crude oil prices, tightening of monetary stance and other factors. For seven consecutive months till April 2022, FPIs have been net sellers in the Indian markets and have withdrawn over Rs 1.65 lakh crore from equities. The main reason for this has been the deteriorating geopolitical situation amid fears of an interest rate hike by the US central bank.
Market’s eye will be on these figures