LIC IPO Cost has been set to this rate

LIC IPO rate has been determined by Government as Rs. 949. The price range of any IPO has been defined between 902-949 and for LIC IPO, the maximum price has been allotted. With this price, Government has been able to earn Rs. 20,560 crores from LIC IPO.

Indian traders showed more interest in this IPO than International traders. LIC IPO is the fourth largest IPO from India and the expectations for its performance are high at this moment. But the negative factors like EU pushing for sanctions on Russia and USA economy collapse and fear of another global recession, Indian inflation at all-time high are acting against IPO performance.

Still traders hope to see a positive trend once LIC IPO debuts on 17th May. On the Grey market though, the trends haven’t been very encouraging. Observers say that the interest in the IPO are decreasing as the launch date is nearing by. LIC IPO received bids for 478.3 Million shares while 162 million were on sale.

The issue broke 2008 Anil Ambani company Reliance Power record by drawing 7.3 Million applications while the previous record holder got 4.8 Million applications. Refunds have been initiated for those applicants who did not receive the IPO while listing is expected on Tuesday.

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