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Gray Prices For LIC Shares Below About 90% Before List: Report -by Ecork

LIC IPO: Gray market for LIC shares down by 90%: Report

Demand for shares of Life Insurance Corporation of India (LIC) was written mainly in the gray market before its exchange index.

According to a Times report, after subscribing to the public donation at the start of the LIC (IPO) closed on May 9, the gray market price for shares changed constantly for the past one week.

LIC shares are being exchanged at a low price of Rs 8-10 per share on the stock price in the unofficial market.

That is 90% below the Premium of Rs 100-105 per share ordered a week ago, the ET report adds.

In stock terms, buying and selling securities before they are officially issued for trading in the stock market is known as the gray market. LIC shares will be listed on stock exchanges on May 17.

According to market observers, the gray market expects the LIC IPO index to hold around Rs 941, and this indicates that shares may be offset against the discount list.

The bidders are eagerly awaiting the allocation after subscribing to the public case of the LIC which ended on May 9. The share is expected to be announced on May 12.

LIC IPO has received strong feedback from investors. The insurance giant’s contribution contributed 2.9 times.

Distributed shares for policy owners, employees, retail investors and qualified institutional investors find engagement.

The share allocated for policy owners shared around six seasons while employees launched 4.31 times in a set share. Retail investors 1.94 times the share set for them.

LIC offers shares at a rate of Rs 902-949 per unit, with a discount of Rs 60 per share for eligible policyholders. Retail bidders and relevant company employees are also discounted Rs 45 per share.

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