LIC listing disappoints: Shares opens at 8.62% discount

Life Insurance Corporation (LIC) debuted on the stock exchange today on a sour note, with shares trading at Rs 872 per share on the NSE, a fall of almost 8% from its IPO price.

Life Insurance Corporation (LIC) get listed on the stock exchange today on a sour note, with shares trading below IPO price on the NSE. The shares were listed on the BSE at Rs 867.20 each, down 8.62 percent from the issue price of Rs 949.

Had a Good Response of anchor investors:


Investors responded well to LIC’s Rs 21,000 crore blockbuster initial public offering (IPO), which was subscribed 2.95 times following a marathon 6-day subscription period from May 4-9.

The shares reserved for qualified institutional buyers (QIBs) were subscribed 2.83 times, while non-institutional investors were subscribed 2.91 times, and retail individual investors (RIIs) were subscribed 1.99 times.

Apart from that, the policyholders segment was 6.12 times subscribed, while the employees segment was 4.40 times enrolled.

For allotment to investors, the issue price of LIC was fixed at Rs 949 per unit. After the markdown, all policyholders and retail investors received the shares at a price of Rs 889 and Rs 904 per share, respectively.

The government had offered policyholders a discount of Rs 60 per share, and retail investors and LIC staff a discount of Rs 45 each.