GIC India gets discounted listing

GIC India disappointed today, especially on a day when  PSUs are ruling the roost, the stock got listed on the BSE at Rs.850 v/s the IPO price of Rs.912. After the discounted listing of IEX on Monday, this comes as a further dampner.

The issue did well, getting subscribed 1.37 times.

Our New Issue Analysis verdict was, “Company has sound fundamentals supported by healthy sector growth. Retail discount of 5% to issue price is not only an investor friendly move, but also keeps up with Govt’s motive to encourage formal avenues of financial savings in the nation. Based on reasonable pricing of the issue, GIC is a Good Investment Choice. .