LIC IPO GMP Today, Subscription Status, Price, Other Details; Should You Buy on Day 4?

LIC IPO The biggest public offer in India, the original public immolation (IPO) of the country’s insurance mammoth Life Insurance Corporation (LIC) is open this weekend, and the issue will go live for Day 4 of bidding soon. The LIC IPO will be over for subscription for as numerous as six days, in discrepancy to other issues which are generally open for three days, and will be also live on Saturday and Sunday — a day when stock requests are closed. This has been done to attract maximum shot for the LIC IPO, which has formerly been oversubscribed.

LIC IPO Price and Discount

The mega LIC IPO went live on May 4, Wednesday, and will remain open till May 5. The government looks to meet its disinvestment targets for the financial time by garnering Rs crore through the LIC IPO at the upper end of the price band by standing3.5 per cent of its stake in the company. The price band for the LIC IPO has been fixed at Rs 902 to Rs 949 per equity share. Still, there’s a reduction of Rs 60 for LIC policyholders, and Rs 45 each for retail individualities and workers orders.

LIC IPO: Subscription Status Day 3

The LIC IPO, which is the biggest in India, has been subscribed1.38 times as of Day 3 of the issue. This means that it has entered flings for22.37 crore equity shares against offer size of16.2 crore equity shares on May 6, Thursday, as per data from the National Stock Exchange (NSE). The portion set away for policyholders portion has subscribed4.01 times, while LIC workers’ share was subscribed3.06 times. On the other hand, retail investors subscribed1.23 times, while QIBs lapped up 56 per cent shares of their distributed share and NII shot for 76 per cent of their portion.

LIC IPO GMP Today

As per IPO Watch, the unrecorded shares of LIC were costing a decoration of Rs 50 at the slate request, as of ending time on Friday. This means that LIC IPO GMP is at Rs 50, which is down by Rs 15 than the former close. LIC IPO GMP has come down from around Rs 90 to Rs 50 situations in last many days, which request spectators said is substantially because of the negative secondary request sentiments.

LIC IPO: Should You Subscribe?

 Despite LIC jotting millions of insurance programs, the insurance decoration-to-GDP rate in India is at3.7 per cent, well below the global normal of7.2 per cent. The IPO is valued at a Price/ Bedded Value of1.1 x on the advanced band on its 2QFY22 EV,” said Reliance Research in its IPO note“ The company is well- placed owing to its omni- channel distribution network comprising of1.33 million agents, several mates and alternate channels, its trusted “ LIC” brand value, and 65 times of lineage. Also, LIC is backed by its strong fiscal track record and educated operation platoon. In view of the giant request share, largest means under operation, strong brand, different portfolio of products, and valuation comfort, we recommend SUBSCRIBE to the issue,” said the brokerage house on the LIC IPO.