Insurance

LIC IPO: LIC To Make Debut On Stock Exchanges Today: Live Updates

LIC IPO: LIC To Make Debut On Stock Exchanges Today: Live Updates
Written by Arindam

LIC To Make Debut On Stock Exchanges Today: Live Updates

The Centre has raised around Rs 21,000 crore from selling a 3.5 per cent stake in LIC

Life Insurance Corporation of India (LIC) is all set to debut on Indian stock exchanges on Tuesday. The Centre priced LIC’s record-breaking initial public offering (IPO) last week at Rs 949, the top of the indicated range. It has raised around Rs 21,000 crore from selling a 3.5 per cent stake in the state-owned insurer.

Here are the live updates on LIC listing:

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LIC is likely to see a lacklustre debut when it lists on Indian stock exchanges on Tuesday despite the $2.7 billion initial public offering being oversubscribed, analysts said.

The IPO closed with nearly 3 times subscription. LIC had last month reduced its IPO size to 3.5 per cent from 5 per cent decided earlier due to the prevailing choppy market conditions.

LIC recieved a good response from domestic investors in the initial share sale. The IPO closed on May 9 and shares were allocated to bidders on May 12. The shares will list on the BSE and NSE.

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