LIC IPO GMP today
Market observers said that LIC IPO GMP today is minus ₹25, which means LIC IPO grey market price has remained almost steady for last 24 hours. LIC IPO GMP yesterday was minus ₹26. Ahead of LIC IPO opening, shares of the insurer were available at a premium of ₹92. So, in near 10 days, LIC IPO GMP has tumbled around 125 per cent. Market observers said that negative trend in the secondary markets have done major damage to the grey market sentiments in regard to LIC IPO. They said that ever since opening of LIC IPO, stock market mood across world has remained bearish and this could be the major possible reason for LIC IPO GMP fall.
What this GMP mean
As LIC IPO GMP today is minus ₹25, it means grey market is expecting that LIC IPO listing would be around ₹925 ( ₹949 - ₹25), which is near 3 per cent lower from LIC IPO price band of ₹902 to ₹949 per equity share.
So, grey market is signaling that LIC shares may have a discounted debut if there is no trend reversal in secondary market sentiments.
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.
