You are here: Home » Markets » News
Business Standard

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

Topics
LIC IPO | Life Insurance Corporation | initial public offerings IPOs

Samie Modak  |  Mumbai 

LIC, Life Insurance Corporation

The listing day performance of insurance behemoth 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.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, May 18 2022. 14:39 IST
RECOMMENDED FOR YOU
.