LIC's listing-day show second-worst globally for big IPOs this year
The worst was that of chip manufacturer ASR Microelectronics, whose shares had slumped 34% in Shanghai during their trading debut in January following its $1.1 billion IPO
 "LIC's listing-day show second-worst globally for big IPOs this year")
premium
The listing day performance of insurance behemoth Life Insurance Corporation of India (LIC) is among the worst for major initial public offerings (IPOs) this year.
Shares of chip manufacturer ASR Microelectronics had slumped 34 per cent in Shanghai during their trading debut in January following its $1.1 billion IPO.
LIC’s eight per cent drop is second-worst for IPOs that have mopped up at least $1 billion from the market in 2022.
The best-performance is also by a Chinese firm Jinko Solar, whose stock more than doubled on listing.
The average first-day returns for the 11 big debuts this year is 20.6 per cent, shows data compiled by Bloomberg.
LIC's $2.7 billion offering was the fifth biggest this year.
The largest IPO so far this year is by South Korean EV battery maker LG Energy Solution, which raised $10.8 billion. Its stock had soared 68.3 per cent during its trading debut in January.
Shares of chip manufacturer ASR Microelectronics had slumped 34 per cent in Shanghai during their trading debut in January following its $1.1 billion IPO.
LIC’s eight per cent drop is second-worst for IPOs that have mopped up at least $1 billion from the market in 2022.
The best-performance is also by a Chinese firm Jinko Solar, whose stock more than doubled on listing.
The average first-day returns for the 11 big debuts this year is 20.6 per cent, shows data compiled by Bloomberg.
LIC's $2.7 billion offering was the fifth biggest this year.
The largest IPO so far this year is by South Korean EV battery maker LG Energy Solution, which raised $10.8 billion. Its stock had soared 68.3 per cent during its trading debut in January.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%