LIC IPO GMP today
Market observers said that LIC IPO GMP today is minus ₹26, which is ₹18 lower from its yesterday's grey market premium of minus ₹8. Market observers maintained that LIC IPO GMP has remained in negative zone for second successive day, which is not a good sign for the largest Indian public issue as it is just few days away from listing. They said that negative secondary market sentiments have done the damage to grey market sentiments in regard to LIC IPO. Ahead of LIC IPO opening, its grey market price was at ₹92. son, in near one week, LIC IPO GMP has tumbled more than 100 per cent and slipped into negative zone.
What this GMP mean?
Market observers said that LIC IPO GMP today is minus ₹26, which means grey market is expecting that LIC IPO listing may happen around ₹923 ( ₹949 - ₹26), which is around 3 per cent lower from its price band of ₹902 to ₹949 per equity share.
So, grey market is signaling that LIC shares may have a discounted listing if the secondary market sentiment continues to remain negative.
However, stock market experts said that grey market premium is not an ideal indicator about success of failure of a public issue. They said that GMP is an unofficial data, which is non-regulated as well. So, one should look at the balance sheet of the company instead of grey market sentiments as financials of the company gives better and concrete fundamental picture of the company.
