After a weak opening, LIC shares settle 8.01% lower from issue price on NSE
LIC shares settled at Rs 875.45 on the BSE, down 7.75 per cent from their issue price while on NSE, they ended at Rs 873.00, down 8.01 per cent.
The shares of insurance sector giant Life Insurance Corporation of India (LIC) debuted the stock exchanges on a weak note on Tuesday
listing at a discount of over 8 per cent from their issue price. The LIC scrip opened at Rs 867.20 apiece on the BSE, down 8.62 per cent from the issue price of Rs 949.
On the National Stock Exchange (NSE), it opened 8.11 per cent lower at Rs 872.00 per share.
Throughout its first session, the LIC stock traded lower from the issue price, hitting a high of Rs 920.00 on BSE and Rs 918.95 on NSE. On the lower side the stock touched Rs 860.10 on BSE and Rs 860.00 on NSE
Eventually it settled at Rs 875.45 on the BSE, down Rs 73.55 (7.75 per cent) from the issue price and at Rs 873.00, down Rs 76 (8.01 per cent) on the NSE
The market capitalisation of the company stood at Rs 5,53,721.92 crore, according to the BSE data.