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Stock market News : If you have also invested in Life Insurance Corporation of India ie LIC IPO and you have been allotted shares, then this news can disappoint you. Actually, the gray market premium i.e. GMP of LIC IPO is continuously decreasing. Let us tell you that the biggest issue of the country was open for subscription from May 4 to May 9. LIC’s IPO received a bumper response from investors.
Gray market price has fallen by 111 percent
LIC’s share price in the unlisted market i.e. Gray Market Premium (GMP) has fallen by 111 per cent in the last 10 trading sessions. GMP which was Rs 85 on 3rd May and today it fell to minus Rs 10. According to IPO Watch during the last three sessions, the GMP of the IPO is stuck at minus Rs 10 level.
When is the listing of shares
Let us inform that the allotment of shares to the investors who bid in the shares of LIC was done on May 12. Now this stock will be listed on BSE and NSE on May 17. Let us tell you that LIC’s IPO was open for investment on May 4. The price band of the issue was fixed at Rs 902-949 per share. In this, apart from keeping some shares reserved for eligible policyholders and employees, they were also given exemption.