LIC shares at 5-7% premium in gray market, could rise additional, say observers

Shares of Life Insurance coverage Company (LIC) have been commanding a premium of 5-7% within the gray market, mentioned market observers.

They added that shares have been altering arms at Rs 1,000 apiece as towards anticipated IPO value of Rs 950.

“Buying and selling exercise is skinny for the time being. As soon as the corporate formally declares the worth band, we’ll see some traction. Additionally, the premium will go up if the market stays steady and the IPO sees sturdy response from institutional traders,” mentioned a dealer.

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