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LIC got listed in the stock market, tremendous trading started as soon as it opened

LIC got listed in the stock market, tremendous trading started as soon as it opened


Business

oi – Ankur Singh

,

Updated: Tuesday, May 17, 2022, 10:58 [IST]

Mumbai, May 17. Shares of Life Insurance Corporation got listed on the stock exchange today. Speaking on the occasion, Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management, BSE said that this is an important event. LIC’s IPO is in line with the vision of Prime Minister Modi. India being one of the most important emerging markets, will be one of the fastest growing economy in this decade.

LIC got listed in the stock market, tremendous trading started as soon as it opened

As soon as it is listed in the market, tremendous trading has started in the stock of LIC. In the pre-opening, however, the stock opened at Rs 872 and reached a high of Rs 918, while reaching a low of Rs 860. The stock has started showing a boom in the open market at 10 o’clock, people expect that they will get good listing gains from this stock. However, it remains to be seen whether LIC’s stock lives up to the expectations of the people.

It was expected that LIC would list at its allotment price of 949, but in the market it was listed on BSC at a price of Rs 867.20 i.e. at a discount of Rs 8.62. That is, these people got this share cheaper by Rs 81.80 than the price of IPO 949. It was expected that LIC would list at its allotment price of 949, but in the market it was listed on BSC at a price of Rs 867.20 i.e. at a discount of Rs 8.62. That is, these people got this share cheaper by Rs 81.80 than the price of IPO 949. Let us inform that LIC had kept the issue price of Rs 949, through which the company collected Rs 20557 crore. It was given to LIC policy holders and retail investors for Rs 889 and Rs 904 respectively. Today the stock listing took place on both BSE and NSE.



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