LIC shares list below ₹900

LIC shares list below ₹900

vs issue price of 949

vs issue price of 949

– LIC IPO, India's largest to date, closed with nearly 3 times subscription

As expected, shares of Life Insurance Corporation of India (LIC) made a dull market debut on Tuesday with the stock listing at ₹872 apiece on the NSE

a discount of about 8% as compared to its IPO issue price of ₹949 per share. On the BSE, LIC shares started trading at ₹867.

“The company’s weak listing can be attributed to high volatility in the markets and negative market sentiments.

LIC enjoys many competitive advantages and the company’s issue was priced at a Price to Embedded value of 1.

1x, providing a valuation comfort, so we suggest investors to stay with the company for the long term despite the negative listing," said Parth Nyati, Founder, Tradingo.

Nyati recommended those who applied for listing gains can maintain a stop loss of ₹800 whereas new investors can take advantage of the dips to accumulate this share for the long term.

“We would like to add that the company's further downside will be limited due to low float post listing," she added.

The initial public offering (IPO) of the insurance behemoth closed on May 9, 2022 and shares were allocated to bidders on May 12.

The government sold over 22.13 crore shares or a 3.5% stake in LIC through the initial share sale.

Minimum order quantity: 15

LIC IPO Share Allotment date:  The share allotment for LIC IPO is likely to be done on May 12

LIC IPO Listing Date:  Shares of India’s insurance behemoth LIC will list on bourses on May 17, DIPAM secretary Tuhin Kanta Pandey has said on Friday

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

CLICK FOR DETAILS

NEVER STOP LEARNING         MORE TOPICS FOR YOU

01

02

5 Best Stocks To Invest In 2022

03

5 Best Stocks To Invest In For The Long Term In 2022