LIC IPO: Grey market premium indicates listing gains for investors
The insurance major saw its grey market premium (GMP) rise 80% on April 28, a day after the IPO was announced.
The insurance major saw its grey market premium (GMP) rise 80% on April 28, a day after the IPO was announced.
For policyholders to bid for the LIC IPO, they must have a demat account, which has been linked to their permanent account number (PAN) present in LIC records.
The reduced valuation of the IPO along with the current despondency of the market raise questions over the prudence and the necessity of launching an IPO of a crown jewel like LIC.
Even with a reduced issue size, LIC will be the largest IPO in the country, outdoing Coal India’s ₹15,500 crore IPO in 2010 and Reliance Power’s ₹11,700 crore IPO in 2008.