New Delhi:The shares of the Life Insurance Corporation of India (LIC) debuted on the stock exchanges at a discount, impacting all types of IPO investors. On the BSE, LIC shares were listed for Rs 867.20, a 9% reduction. The LIC offering price was unprofitable for all types of investors, including policyholders, who received shares at Rs 889 each after a Rs 60 discount, whilst employees and retailers received shares at Rs 904. However, the stock quickly recovered to achieve Rs 920 on the BSE before reducing some of its gains and trading below Rs 900 in the early hours. Despite the dismal listing, the majority of market analysts are optimistic about LIC and recommend that investors hold it for the long run.
