The so-called high networth individual portion saw 620x more demand than shares on offer.
'Whenever markets rally, the IPO pricing gets aligned to the prevailing market conditions.'
The Securities and Exchange Board of India (Sebi) has cleared the draft red herring prospectus (DRHP) of the state-owned Life Insurance Corporation of India (LIC). According to investment banking sources, the so-called final observations were issued by the market regulator on Tuesday evening. Following the market regulator's nod to the IPO papers, the insurer can launch its share sale. However, LIC may not launch its IPO immediately given the current volatile market conditions.
More cos could join the likes of Burger King and Antony Waste in giving listing another shot.
The listing day gain-to-loss ratio for FY21 was 71 per cent, the highest since FY17, when it was 85 per cent.
While the recent volatility in the secondary markets is a concern, experts believe the sentiment towards IPOs is still buoyant.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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