The country's largest insurer LIC on Tuesday listed its shares at a discount of 8.11 per cent at Rs 872 per share on the NSE.

On the BSE, the shares got listed at Rs 867.20 apiece, down 8.62 per cent over the issue price of Rs 949 a share.

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Sentiment is affected due to carnage in the broader market. Though there is some recovery today and yesterday, many stocks have corrected sharply from the recent high.

We were not expecting on a big listing as markets were jittery, expect it to pick up.

LIC's market capitalisation slipped to Rs 5.57 lakh crore in early trade against just over Rs 6 lakh crore at the issue price, eroding over Rs 42,500 crore in investor wealth due to the tepid listing.

Policyholders and retail investors LIC policyholders and retail investors have got the shares at a price of Rs 889 and Rs 904 apiece, respectively, after taking into account the discount offered.

LIC had fixed the issue price of its shares at Rs 949 apiece after a successful initial public offering, which fetched Rs 20,557 crore to the government.

“LIC shares have opened at a discounted price only due to the negative secondary market sentiments.

Allottees, who have long-term view, can take this as an opportunity to accumulated on every 5 per cent dip

rom its listing price levels whereas fresh investors can start buying LIC shares in a calibrated manner till it is above ₹730 levels

said Anuj Gupta, ‪Vice President — Research at IIFL Securities.

Advising fresh investors to wait for some time, Ravi Singhal, Vice Chairman at GCL

Securities said, "Those who missed to apply for the LIC IPO are advised to wait for few sessions as it has opened at a discounted price only because of the weak stock market sentiments.

As that factor still exists, one should wait for the stock to stabilize and enter when there is big fall in LIC stock maintaining stop loss at ₹735 levels.

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