Comments
Mumbai, May 18
A day after it was listed on the stock exchanges, shares of Life Insurance Corporation of India ended largely flat. Delivery volume was 50 to 52 per cent in the first two days of trading.
LIC scrip closed at ₹876.25 apiece on BSE on Wednesday, at a gain of 0.09 per cent from the previous close. On NSE, the share closed 0.06 per cent lower at ₹874.75 apiece.
It however, retained its position as the fifth most valuable company in terms of market capitalisation, according to BSE data. Its market capitalisation was ₹5.54 lakh crore by the end of the day.
The shares were trading about one per cent up in early morning trade on Wednesday.
Shares of the life insurance behemoth were listed on the stock exchanges on May 17 at a discount of over 8 per cent on their issue price of ₹949 a piece.
On the NSE, the LIC scrip was listed at an 8.11 per cent discount at ₹872 apiece. On the BSE, it listed at a discount of 8.62 per cent at ₹867.2 apiece
The IPO, which was the largest till date in the Indian capital markets, had seen strong response from investors and was subscribed 2.95 times.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.