Now as we have inched very close to the LIC listing date i.e. likely tomorrow i.e. May 17, 2022 (Tuesday), the current GMP or grey market premium as per topsharebrokers.com is still in the negative i.e. -10. The GMP as per the site was last updated today at 9:30 am. As per ipowatch.in-another portal tracking GMP of unlisted securities it is -12. Further as per some of the leading business dailies, the GMP of LIC as of today has gone down to -19.
The GMP or grey market premium is the premium that unlisted shares command in the unofficial market referred to as grey market. The GMP is likely reflective of the gains or losses for the share at the time of listing. So, given the current GMP for LIC, it shall most probably list at a discount to the IPO issue price of Rs. 949.
The country's largest ever public issue garnered huge response, oversubscribing close to three times the issue size. The issue price has been fixed at Rs. 949 per share i.e. the upper end of the price band, fetching close to Rs. 21,000 crore to the exchequer.
"The financial behemoth got a mixed response despite attractively priced valuations on account of subdued market conditions. The current sentiments indicates at par to discount listing, however, if market sentiments stabilises or improves till listing, we may see a positive impact. Hence, one should limit their expectations as far as listing gains are concerned," Abhay Doshi, founder, UnlistedArena is quoted as saying in a leading daily.