LIC lists at 8.6% discount, stock recovers partially post weak debut

LIC has now become the fifth most valuable listed Indian company with a market capitalisation of Rs 5.72 trillion on the BSE as of 10:08 am, the exchange data shows.

Shares of Life Insurance Corporation of India (LIC) listed at Rs 867.20 on the BSE, a 8.6 per cent discount when compared with its issue price of Rs 949 per share offered to qualified institutions and non-institutional buyers. On the National Stock Exchange (NSE), the stock opened at Rs 872, i.e. 8 per cent lower against its issue price.

The stock of India’s largest insurance provider company also listed 4 per cent below the shares issued at price of Rs 904 to retail individuals and employees and 2 per cent lower against the shares allotted to eligible policyholders at