LIC unlisted shares were trading at Rs 934 a piece on Saturday (May 14), a discount of Rs 15 to the upper limit of the IPO price band
LIC settles at Rs 872 per share in pre-open on NSE against issue price of Rs 949 per share
Life Insurance Corporation lists at Rs 865 per share against issue price of Rs 949 per share, a discount of 9%
LIC shares to get listed today, retail investors who have to receive the allotment can hold list for short term to medium term.
LIC is the country’s oldest and largest life insurance firm.
It was formed by merging and nationalising 245 private life insurance companies on September 1, 1956, with an initial capital of Rs 5 crore.
LIC was trading at Rs 900, down Rs 49, or 5.16 percent at 10:35 hours.
It has touched an intraday high of Rs 920 and an intraday low of Rs 860.10.
Brokerage firm Macquarie has initiated coverage on LIC with a ‘neutral’ rating with a target of Rs 1,000 per share.
India's largest ever initial share sale, was open for subscription between May 4 and May 9. It was subscribed nearly 3 times,