LIC IPO: After the Reserve Bank of India (RBI) hiked policy rates on Wednesday and the markets came crashing down. The announcement was made after an unscheduled Monetary Policy Committee (MPC) meeting and coincided with the opening of India's largest public issue of the Life Insurance Corporation of India. This has made investors jittery, and questions are pouring in if they should withdraw their applications or people who planned to subscribe should go ahead?

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Zee Business Managing Editor said that the LIC IPO is not meant for people who are looking for immediate gains. He said that Wednesday's event was not foreseen. He said that LIC IPO is not for those people who have formed their opinion on it on a day's fall with just a 1-2 day perspective.    

Taking about LIC IPO's fall yesterday, the market guru said, from the one-day decline, those who are wondering whether to invest or not or withdraw their applications, this is suggested that they should withdraw their application. 

He asked the investors to think on this aspect if they had filed the application on May 9 and the interest rates would have gone up on May 10-11, then what should they do? The current reaction is only because the interest rates have gone up on the first day of LIC IPO, the Market Guru added.

If you have a short-term outlook and are looking for a short-term investment, then this IPO is not for you, Singhvi said.

Risk is always there in the market and one day's fall neither spoils the market nor does it changes the outlook of the IPO. In fact, it does not change with the fluctuations of a day, he elucidated.

He further said 'My point is simple, if you are looking for a medium to long term stock and thinking to keep this stock in your portfolio, then there is no change in outlook on this stock in my opinion.'

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The market Guru explained that opinions about the stock must be formed on the basis of the company's fundamentals, valuation, and quality and that doesn't change in a day.

LIC is a decades-old organization. If one day the market falls by 300-400 points and because of that someone thinks about whether to invest money in LIC's IPO or not, then this IPO is not for those investors, he said. Investors who think so and are afraid to invest, he further suggested, no IPO is right for that person because this market will not give you the "right" time as is being thought.

Today is the second day of the issue and it will close on 9 May.