LIC IPO: Shares at premium in grey market, say observers. What GMP indicates?
Live MintLIC IPO: The Initial Public Offering of insurance behemoth Life Insurance Corporation of India is going to hit Indian primary markets next month. LIC IPO GMP Market observers said that LIC IPO GMP today is ₹20, which is ₹28 down from its grey market premium on Wednesday. They said that negative market sentiments could be the possible reason for this slump in LIC IPO GMP today. They also said that LIC IPO is gong to open after a week that means premium prediction by grey market despite weakness in secondary market should be taken as a good signal. What this GMP mean As LIC IPO GMP today is ₹20, it means grey market is expecting that LIC IPO listing would be around ₹969, around 2 per cent higher from LIC IPO price band of ₹902 to ₹949 per equity share.