LIC IPO to be listed on stock exchanges on May 17

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On Tuesday, the stock exchanges will list the LIC first public offering (May 17). The LIC IPO allotment took place on May 12, 2022, for an issuance that was over three times oversubscribed.

The government has set the price of the LIC share at Rs.949, which is the upper limit of the price band. This offer is estimated to raise Rs.20,557 crore for the government.

According to market trends, the Life Insurance Corporation of India stock may be listed at a moderate to discounted price on May 17, as LIC shares continued to trade at a discount of Rs.19 in the grey market on Monday. The stock market has been ending in the red for six straight days, creating significant selloff pressure.

Understanding market dynamics “Despite gloomy market sentiments,  Life Insurance Corporation of India 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,” said Prashanth Tapse, Vice President (Research), Mehta Equities Ltd.

The unofficial grey premium has fallen into negative territory, owing to depressed global markets, which have been bearish since the Russia-Ukraine conflict.

In the domestic markets, selling pressure maintained, with FIIs remaining net sellers in the first half of the year. Based on all of the factors, we anticipate a soft listing between +/- 5% of the offer price.

Furthermore, the  Life Insurance Corporation of India offer was never viewed as a listing gain prospect, but rather as a long-term investment.”

“With market attitudes still frightening and volatile as a result of global headlines, we encourage allocated investors not to panic and to keep the stock for the medium to long term.” Those wanting to buy on a listing day should do so by using volatility as an opportunity,” he added.

Also Read: http://localhost/clipper28/en/amit-shah-kcr-turning-telangana/

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