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The gray market premium for LIC is now negative.

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3 years ago

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The gray market premium for LIC is now negative.

Life Insurance Corp (LIC) shares’ grey market premium (GMP) turned negative on Wednesday, ahead of its May 17 listing.

According to a trader who did not want to be identified, the LIC GMP peaked at Rs 93-95 per share and then began to decline. On May 5, it was trading between Rs 8 and Rs 10 per share. It was extremely volatile on May 6 and 10, with a downward trend, he said. He added that it had fallen from Rs 8-9 per share to a negative Rs 15 per share on Wednesday.

The GMP has steadily declined since its peak, owing to concerns about a lacklustre response from foreign investors. Retail and domestic institutional investors were the primary buyers of the IPO. The presence of foreign investors was minimal.

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Investors were also concerned by volatility, which was sparked by fears of global central banks tightening in response to higher inflation.

While the lower valuation in comparison to peers is a positive, analysts are concerned about accumulated losses of Rs 6,028 crore, loss of market share, a lack of digital presence, and the perception that not all decisions made by the country’s largest life insurer are in line with shareholder interests.

By selling 3.5 percent of its stake in the country’s largest insurer, the government will raise Rs 20,500 crore. The stock offering began on May 4 and ended on May 9. On May 12, allotments will take place, and shares will be credited to demat accounts on May 16.

The price band had previously been set at Rs 902-949 per share by LIC, which had slashed around 60% of its issue size due to poor market conditions.

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The initial public offering (IPO) was a pure offer to sell up to 221.37 million shares. For the anchor investor portion, the company set aside 59.29 million shares. The reservation portion for employees is 1.58 million, while the reservation portion for policyholders is 22.14 million. The QIB portion has a value of 98.83 million.

“The IPO was reasonably priced.” However, investors’ moods were disturbed by volatile market sentiments. If market sentiments had remained stable, we would have seen much higher subscription across all investor categories,” said Manan Doshi, co-founder of UnlistedArena.com.

“Despite the attractive offer, the volatile market environment, low subscription, and bulky issue size are the factors generating pessimism,” he said.

Meanwhile, GMP of Delhivery Ltd, Venus Pipes & Tubes Ltd, and Prudent Corp Advisory Services Ltd were trading at Rs 8-9 a share, Rs 40-42 a share, and Rs 34-36 a share, respectively.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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16 hours ago

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January 21, 2025

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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