Business

LIC investors lost their first day, listing with a decline of 8.11 percent

Punjab Tribune Bureau | May 17, 2022 11:13 AM

MUMBAI: The country's largest insurance company shares Life Insurance Corporation of India (LIC) were listed on the National Stock Exchange (NSE) on Tuesday with a fall of 8.11 percent from its issue price.

According to news agency, LIC's shares were also listed on BSE at Rs 867.20, which is lower than its issue price.

One share of LIC was bought by the applicants for Rs 949.

LIC had fixed the issue price of its shares at Rs 949 at the time of IPO launch, which earned the government Rs 20,557 crore.

LIC policyholders had to pay Rs 889 for a share, while for retail investors this price was Rs 904. 

LIC shares were listed for the first time on Tuesday on BSE and NSE with a discount of Rs 81.80 and Rs 77 respectively.

The government has sold its 3.5 per cent stake or 22.13 crore shares in LIC. For this a price band of Rs 902-949 was fixed.

Opening bell to mark the listing of Life Insurance Corporation of India


 

Historic moment: LIC being listed on the stock exchanges


Have something to say? Post your comment
Must Read
Shiromani Akali Dal to support NDA’s presidential candidate Draupadi Murmu: Sukhbir Singh Badal
Shiromani Akali Dal to support NDA’s presidential candidate Draupadi Murmu: Sukhbir Singh Badal
Patwari among three held for graft as more complaints pour in on anti corruption action line
Patwari among three held for graft as more complaints pour in on anti corruption action line
Eknath Shinde to be new Chief Minister of Maharashtra, take oath at 7.30 pm today, says-Devendra Fadnavis
Eknath Shinde to be new Chief Minister of Maharashtra, take oath at 7.30 pm today, says-Devendra Fadnavis
Udaipur tailor murder: Protests erupt in part of city under curfew day, CM Ashok Gehlot announces compensation of Rs 50 lakhs with promise of two govt. jobs
Udaipur tailor murder: Protests erupt in part of city under curfew day, CM Ashok Gehlot announces compensation of Rs 50 lakhs with promise of two govt. jobs
Maharashtra political crisis: Eknath Shinde big statement on new government with BJP, workers and BJP leader breaks out into celebration after Thackeray resigns
Maharashtra political crisis: Eknath Shinde big statement on new government with BJP, workers and BJP leader breaks out into celebration after Thackeray resigns
Udaipur: Tailor's gruesome killing a challenge to country's sovereignty, will it be considered a terror attack?
Udaipur: Tailor's gruesome killing a challenge to country's sovereignty, will it be considered a terror attack?
Opposition may pick Yashwant Sinha, who resigns from TMC, as Presidential candidate?
Opposition may pick Yashwant Sinha, who resigns from TMC, as Presidential candidate?
Sangrur by-poll: Arvind Kejriwal, Bhagwant Mann hold roadshow in support of party candidate Gurmail Singh, receives a stupendous response from the people
Sangrur by-poll: Arvind Kejriwal, Bhagwant Mann hold roadshow in support of party candidate Gurmail Singh, receives a stupendous response from the people
Violent protests intensify against Agneepath in UP-Bihar on day 3, several trains set on fire & Highways blocked
Violent protests intensify against Agneepath in UP-Bihar on day 3, several trains set on fire & Highways blocked
Anti-Begging task force rescues 10 children
Anti-Begging task force rescues 10 children
Congress continues to Protest over Rahul Gandhi’s ED probe: 800 workers detained in 3 days, Shashi Tharoor says- “BJP should remember they were not treated this way”
Congress continues to Protest over Rahul Gandhi’s ED probe: 800 workers detained in 3 days, Shashi Tharoor says- “BJP should remember they were not treated this way”
1984 anti-Sikh riots, 4 accused arrested after 38 years
1984 anti-Sikh riots, 4 accused arrested after 38 years