LIC Debuts On D-Street: Pre-Open On BSE Indicates Lower Listing Price
- According to the pre-open indicative price on the BSE, LIC's debut open will be lower than its allotment price of Rs 949.
- If the premium in the grey market is anything to go by, then LIC shares are likely to trade below their IPO allotment price of Rs 949 per share. Indeed, the premium for LIC shares in the grey market has fallen nearly 70 per cent since the IPO opened for subscription on May 9, underscoring sentiment that the risks are tilted toward lower listing on stock exchanges.
- The listing comes when financial markets have been whiplashed on stagflation worries as major central banks are poised on an aggressive interest rate hike path to combat multi-decade high inflation. Emerging markets assets have taken a beating on foreign capital exodus driven by the dollar's appeal on a general increase in flight-to-safety trades.
- LIC priced its public offer, India's largest-ever, at the top of the indicated range (Rs 902-949), at Rs 949. The insurance company's shares were last trading at a discount of around Rs 30 in the grey market from the upper end of the price band, a sharp decline from a premium of 100 rupees earlier this month.
- The government has raised Rs 21,000 crore by selling 3.5 per cent of its stake in the insurance behemoth, a third of its initial target plan. Despite wild gyrations in global financial markets, LIC's IPO got an overwhelming response. The offer was oversubscribed nearly three times, led by policyholders who bid for over six times the shares on offer.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
