Friday, July 1, 2022
BusinessLIC shares listed at 8% discount, retail investors disappointed

LIC shares listed at 8% discount, retail investors disappointed

Experts say that despite the bad situation in the market, LIC's IPO was successful. Policyholders, employees and retail investors showed good interest in the issue

LIC shares got listed on the stock exchange on Tuesday. The stock is listed at a discount of more than 8%. The stock got listed on BSE at Rs 867. It got listed on NSE at Rs 872. All eyes were on the listing of LIC shares.

It was the biggest IPO in the country, hence it was very much discussed. LIC shares were trading at a discount in the gray market. Due to this, investors were worried about its weak listing.

The government has garnered around Rs 21,000 crore by selling its 3.5 per cent stake in LIC. Earlier the government had planned to raise Rs 60,000 crore by selling its 5 per cent stake in LIC through this IPO. However, in view of the poor market conditions, it reduced the size of the IPO. He also reduced the valuation of LIC.

LIC had given a discount of Rs 45 per share to retail investors. Policyholders were given a discount of Rs 60 per share. After the discount, the company issued shares to policyholders at Rs 889 per share, while to retail investors at Rs 904 per share.

Experts say that despite the bad situation in the market, LIC’s IPO was successful. Policyholders, employees and retail investors showed good interest in the issue.


Read Also | LIC IPO Listing of shares can be done at a discount today, know what you should do?


The reason for this is the strong brand of LIC. It is recognized in every household. Many people take the meaning of insurance with LIC. It has a wide sales network across the country. It has more than 2000 branches across the country.

On Tuesday, for the second day in a row, the stock market is seeing an uptrend. Prior to this, the market sentiment was looking very weak for several weeks.

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