Weak global cues to hammer LIC listing? Here's what grey market signals

The declining risk appetite of investors amid rising rates and inflation continue to play spoilsport across markets. With persistent bears hammering, the prospects of a decent listing of Life India Insurance (LIC) has diminished, as per trends in the grey market. Shares of LIC were trading at a discount of Rs 15-20 a piece over its issue price of Rs 949 in the grey market ahead of its listing on Tuesday, May 17.

In the unofficial market, the grey market premium (GMP) of LIC has shed over 100 per cent from its peak level of Rs 85-90 a share quoted