LIC listing | Stock settles at Rs 872 on BSE, 8% lower than issue price

Life Insurance Corporation of India (LIC) debuted on the stock markets on May 17. The firm raised around Rs 21,000 crore via IPO, valued at Rs 6.01 trillion on its upper price band of the issue of Rs 949 a share. (Image: Twitter @BSEIndia)

Listing Ceremony of LIC began with auspicious 'lamp lighting' ceremony on May 17, 2022 at BSE India. Investors of the state-run insurer lost over Rs 50,000 crore on debut. (Image: Twitter @BSEIndia)

Shri Mangalam Ramasubramanian Kumar, Chairperson and others rang the opening bell to mark the listing of Life Insurance Corporation. (Image: Twitter @BSEIndia)

At closing, the stock settled at Rs 872.70 on BSE, down 8.04 percent against the issue price while its mcap stood at Rs 5.52 trillion. With this listing, the policyholders and employees also saw their investment turning into negative. (Image: Twitter @BSEIndia)