On Thursday, May 12th, the Life Insurance Corporation of India (LIC) completed its first public offering (IPO) share allotment.
LIC stock will make its BSE and NSE debut on 17 May.
He Rs 21,000-cr public offer received 2.95 times subscription during the 6-day bidding process.
Investors were provided LIC shares in an initial public offering (IPO) at a predetermined price range of Rs 902-949 per equity share.
According to persons who deal in unlisted shares of corporations, LIC shares were seen selling at a discount of Rs 9 in the grey market on Friday, at Rs 940 apiece, from the higher end of the pricing band.
Analysts are split on the LIC IPO share listing, with some predicting a 10% premium, while others urge waiting until the stock market debut to make a decision.
With its IPO, LIC has become the largest ever on Dalal Street, overtaking Paytm’s public issue last year.
Paytm raised Rs 18,300 crore through an initial public offering in 2021.
Coal India, valued at about Rs 15,500 crore in 2020, and Reliance Power, valued at Rs 11,700 crore in 2008, are two other major problems on Dalal Street.