LIC Soars Above Debut: Shares Cross Listing Day Price for First Time

16 Jan 2024 , 02:58 PM

The share price of Life Insurance Corporation of India (LIC), the biggest insurance firm in India, has passed a significant milestone. The price of LIC’s stock exceeded its listing day closing price of Rs. 867 for the first time since it became public. During the trading session on January 16, the stock climbed more than 3%, reaching an intraday high of Rs. 895. 

This breakthrough price point is significant because it indicates that LIC shares have risen above the levels seen at the company’s eagerly anticipated May 2022 debut. The government sold a 3.5% share in LIC during its Initial Public Offering (IPO), making it the largest public offering in Indian stock market history. The government offered policyholders and ordinary investors discounted shares, setting the IPO price range at Rs. 902-949 per share.

The share price of LIC has increased significantly in the last few months. The stock has increased by more than 11% over the last month and by a strong 43% over the previous six months.  

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