The Central Government had submitted the revised draft of LIC IPO (LIC IPO DRHP) with market regulator SEBI on Monday last week. Earlier the government was going to sell its 5 percent stake in LIC through this IPO. However, now its size has been reduced.
@Moneycontrol
This week the much-awaited IPO of the government insurance
company LIC is going to come in the open market. From today i.e. Monday, this
IPO has been opened for anchor investors. This IPO will open for retail
investors on May 4 and bidding can be done till May 9. Meanwhile, there has
been an improvement in LIC IPO premium (LIC IPO GMP) in the gray market. Today
its premium has increased to Rs 85 in the gray market.
GMP climbed
more than five times
According to IPO Watch, LIC's IPO is currently trading in
the gray market at a premium of Rs 85, or about 10 percent. At the same time,
according to the top share brokers also, the GMP of LIC IPO is currently
trading at a premium of about 10 percent.
The GMP of LIC IPO on 23 April was just Rs 15. The way the
premium of LIC IPO has gone up in the gray market, if it is reflected in the
open market also, then the investors of the IPO can earn a decent amount.
Government
selling such stake
The Central Government had submitted the revised draft of
LIC IPO (LIC IPO DRHP) with market regulator SEBI on Monday last week. Earlier
the government was going to sell its 5 percent stake in LIC through this IPO.
However, now its size has been reduced. According to the revised draft, now the
government is going to sell only 3.5 percent stake in LIC. In this way, the IPO
of LIC is now going to be worth Rs 21 thousand crores. However, even after
this, it will become the biggest IPO of the country so far. Till now this
record was in the name of Paytm, which had introduced an IPO of Rs 18,300 crore
last year.
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FPO will
not come for one year