Flop listing of LIC IPO:
The shares of the country's largest insurance company LIC have finally debuted in the stock market on May 17.
LIC shares got listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Tuesday, 17th May 2022.
LIC's stock has disappointed investors on the very first day of listing. Because the listing of LIC shares was a flop.
Shares of LIC are listed on Bombay Stock Exchange (BSE) at a discount of Rs 81.80 i.e. 8.62% at Rs 867.20 per share.
LIC shares on NSE are listed at Rs 872, down 8.11%. LIC shares listed on NSE at a discount of Rs 77.
Shortly after the listing, there was a slight recovery in the shares of LI. LIC shares were trading 4.36% down at Rs 907.60 on BSE.
Recovery was also seen on NSE. After 10 minutes of listing, LIC shares are trading at Rs 904.25, down 4.72%.
At the end of the stock market on the first day, the shares of LIC closed at 873 on NSE. Which is a big setback for investors.
Life Insurance Corporation of India:
Open: 872.00 High: 918.95 Low: 860.00 52-wk high: 918.95 52-wk low: 860.00
Let us tell you that LIC's IPO closed on 9 May and its shares were allotted to the bidders on 12 May.
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