Life Insurance Corporation of India (LIC) Chairperson MR Kumar on Tuesday said a big listing was not expected for shares of the life insurer as the markets have been volatile.

“Maybe markets are also jittery. And in any case, we were not expecting a very big listing,” Kumar said soon after the listing ceremony at BSE, adding that it is expected to pick up.

“I’m sure a lot of people, including policyholders, would have missed out on the allotment. They will also pick up the shares. So I don’t see any reason why it should be tepid for too long,” he said

DIPAM Secretary Tuhin Kanta Pandey said the LIC listing is a landmark event.

“Nobody can predict the market but we have been saying that don’t hold the stock for a particular day but hold it for a time,” he told reporters after the listing ceremony, adding that there is some protection for retail investors who have got the shares at a discount during the IPO.