LIC shares list at Rs867.20 per share

17 May 2022 , 10:05 AM

Life Insurance Corporation (LIC) shares list at Rs867.20 per share on the BSE, a discount of 8.62 per cent, or Rs81.80, from its initial public offering (IPO) allotment price of Rs949.

On the NSE, the insurance behemoth’s listing price was Rs872, indicating a discount of 8.11 per cent from issue price of Rs949 per share.

The shares were trading at Rs872 in pre-open trade compared to the offer price of Rs949.

LIC initial public offering (IPO) received a stellar response from investors when it opened for subscription.

LIC IPO was booked 2.95 times over the 16.20 crore shares that were on offer during the subscription period.

The IPO opened for subscription from May 4-9. The price band was fixed at Rs902-949 per share. For LIC employees and retail investors, there was a discount of Rs45 per equity share. LIC policyholders were eligible for a discount of Rs60 per share. LIC IPO was entirely an offer-for-sale (OFS) where the central government aimed to offload 3.5 per cent of its stake in the life insurer.