The Initial Public Offering (IPO) of insurance behemoth Life Insurance Corporation (LIC) of India is going to hit Indian primary markets next month.

As per the information available on the official BSE website, LIC IPO  date of subscription has been fixed from 4th May to 9th May 2022.

The Government of India (GoI) has fixed LIC IPO price band at  ₹902 to  ₹949 per equity share.

Meanwhile, LIC shares have become available in grey market.

According to market observers, LIC shares are trading at a premium of  ₹20 in grey market today.

Market observers said that LIC IPO GMP (grey market premium) today is  ₹20, which is  ₹28 down from its grey market premium on Wednesday.

They said that negative market sentiments could be the possible reason for this slump in LIC IPO GMP today.

They also said that LIC IPO is going to open after a week that means  premium prediction by grey market despite weakness in secondary market  should be taken as a good signal.

Shares of LIC had made debut in grey market on Monday with a premium of  ₹25.