LIC IPO LIVE Updates:

LIC IPO LIVE Updates:

LIC share lists at 8.11% discount at Rs 872

LIC share lists at 8.11% discount at Rs 872

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.

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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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– UPDATES – ALL – KEY EVENTS

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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.

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

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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.

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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.

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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.

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

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

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

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

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

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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.

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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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Cream Section Separator

LIC Share Lists at 9% Discount: Buy, Sell or Hold, What Should LIC Investors Do Now?

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