Life Insurance Corporation (LIC Share), the country’s largest insurance firm, has gone public. The country’s largest IPO was listed at a discount of 8 to 9% on the BSE and NSE.
LIC Initial Public Offering: The stock of the country’s largest insurance firm, Life Insurance Corporation (LIC Share), has been listed on the stock exchange. The country’s largest IPO was listed at a discount of 8 to 9% on the BSE and NSE. Experts had previously expressed the hope of LIC’s shares being listed at a discount.
On the first day, investors were disappointed.
On the first day, the stock performance of the insurance company disappointed investors. On the BSE, LIC’s shares was listed for Rs 867.20, a discount of Rs 81.80. (fall 8.62 percent ). At the same time, this stock was floated on the NSE for Rs 872, with a Rs 77 discount.
After some time, a slight recovery
However, shortly after the listing, the price began to recover and reached a high of Rs 918. Let us remind you that before May 9th, investors have put money into this stock. On May 12, the shares were distributed to the bidders. The price range for this was established between Rs 902 and Rs 949 per share.
Domestic investors responded enthusiastically to the government’s Rs 20,557 crore initial public offering. The government set the price band for this share at Rs 949 per share. Retail investors and LIC policyholders were given Rs. 889 and Rs. 904 per share, respectively.