LIC IPO Listing Today: The shares of the country’s largest insurance company Life Insurance Corporation of India (LIC IPO) have finally debuted in the stock market today, May 17. LIC shares got listed on BSE and NSE on Tuesday. The shares of the insurance company have disappointed investors on the first day of listing. Company shares on BSE 81.80 With Rs. Discount i.e. 8.62% fall 867.20 Listed at Rs.
LIC IPO was open on 9th May
Let us tell you that LIC’s IPO closed on 9 May and its shares were allotted to the bidders on 12 May. The government has offered more than 22.13 crore shares i.e. 3.5 percent stake in LIC through IPO. For this, the price range was kept at Rs 902-949 per share.
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Great response from domestic investors
LIC’s IPO got nearly three times subscription. Domestic investors took part in this, while the response from foreign investors was ‘cold’. This is the biggest IPO in the history of the country. The government has decided to sell its 3.5 per cent stake in LIC through this issue. The government was expected to get around Rs 20,557 crore from the sale of this stake.
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Biggest IPO ever
With this amount, LIC’s issue has proved to be the biggest IPO in the country so far. Before this, Paytm’s IPO, which came in 2021, was worth Rs 18,300 crore. Prior to that, in the year 2010, the IPO of Coal India was about Rs 15,500 crore.