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According to market experts, the GMP of LIC's IPO was at minus 13 yesterday
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Shares of India's biggest Life Insurance Corporation of India (LIC) IPO may be listed on public exchanges next week. The shares have been allotted to the holders.
The listing of LIC's IPO can be done tomorrow i.e. on April 17. The shares of LIC IPO are expected to be listed on the stock exchanges tomorrow. According to market experts, the GMP of LIC's IPO was at minus 13 on Sunday.
Apart from this, investors who have not been able to get share allotment, were refunded on May 14 and 15. On the other hand, on Monday i.e., May 16, shares can be credited in the demat account of eligible investors. This IPO can be listed in the market on May 17.
According to market experts, LIC's IPO shares are trading at Rs 936 in the grey market on Sunday (May 15). If the GMP does not change in the coming days, the shares may get listed on the exchange at the same price.
LIC has allotted IPO shares of Rs 949 to investors at the upper end of the price band. Along with this, LIC also gave discount on IPO to its policyholders and employees. LIC has given a discount of Rs 60 per share to policyholders and Rs 45 to LIC employees on IPO shares.
On the other hand, investors who were allotted IPO shares without any discount, they will benefit slightly from this. Because GMP is running in minus for the last several days. However, policyholders and employees could potentially earn listing benefits as they were allotted shares at a discount. But nothing can be said clearly right now.