Markets

LIC scrip ends largely flat on second day

BL Mumbai Bureau | Updated on: May 18, 2022
File picture: A man walks past a hoarding of Life Insurance Corporation of India after a press conference on its IPO in Mumbai last month. 

File picture: A man walks past a hoarding of Life Insurance Corporation of India after a press conference on its IPO in Mumbai last month.  | Photo Credit: FRANCIS MASCARENHAS

The shares listed on the stock exchanges at a discount of over 8 per cent on May 17

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.

Published on May 18, 2022
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