LIC shares slip below IPO price in grey mkt, trade at Rs 940-945: Sources

Retail investors still in-the-money

Shares of Life Insurance Corporation (LIC) have slipped below their issue price in the unofficial grey market, said people in the know. Sources said shares of the insurance giant are changing hands between Rs 940 and Rs 945 in the grey market. LIC’s IPO price is expected to be Rs 949. Shares of LIC are expected to make their stock market debut on Tuesday. If grey market activity is to go by, the stock could list at a discount.

However, individual investors would still end up making some gains. The break-even point for retail and policyholders, who have