If you remember “Golisoda”, the bottle makes a loud noise upon opening it but the drink inside the bottle could be good or dissatisfactory. But the loud noise or sound is common before you drink. The same is seen in the case of LIC IPO debut at the markets.
It made a grand noise last week with government listing it at the maximum price Rs. 949 per stock but it opened 8.62% low at Rs. 867.20 at BSE Stock Exchange. This has come as a shock to the investors who expected LIC to be a big performer.
Government made Rs. 21,000 crores with investors showing huge interest in the IPO but the debut in markets did not live upto the expectations. Even Zomato, Paytm had similar experiences.
On Contrary, markets have opened on a positive note on 17th May and the trend is to expected to continue throughout the week as US stock exchange is expected to recover over the next week.