The country’s largest insurance company Life Insurance Corporation (LIC Share) has entered the stock market. The country’s largest IPO was listed on BSE and NSE at a discount of 8 to 9 percent.
LIC IPO Listing: The country’s largest insurance company Life Insurance Corporation’s share (LIC Share) has entered the stock market. The country’s largest IPO was listed on BSE and NSE at a discount of 8 to 9 percent. Earlier, experts had also expressed the hope of listing of LIC’s shares with a discount.
Investors disappointed on day one
The performance of the insurance company’s stock disappointed investors on the very first day. LIC’s stock was listed on BSE at Rs 867.20 with a discount of Rs 81.80 (fall 8.62%). At the same time, this share was listed on NSE at Rs 872 with a discount of Rs 77.
Slight recovery after sometime
However, some time after the listing, the stock saw a recovery and it went up to the level of Rs 918. Let us tell you that the investors had invested money in this stock till 9 May. After this, the shares were allotted to the bidders on May 12. For this, the price band was kept between Rs 902-949 per share.
The government got a bumper response from domestic investors for this IPO of Rs 20,557 crore. For this share, the government had fixed the price band at Rs 949 per share. LIC policyholders and retail investors were allotted Rs. 889 and Rs. 904 per share respectively.
