COUNTRY'S largest insurer LIC disappointed investors looking for listing gains, with the share making its debut at an over 8% discount on the exchanges and closing near the listing lows, as anticipated by analysts.
The share closed at ₹875.25 on NSE and ₹875.45 on BSE, both were below the issue price of ₹949. The close was also below the discounted prices of ₹889 for policyholders and ₹904 for retail investors.
The Street expected a tepid showing with the share quoting at a discount of ₹22-23 to ₹949 on the grey market a day before the listing. LIC closed ₹73 lower on both the BSE and NSE.
This story is from the May 18, 2022 edition of The New Indian Express Chennai.
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This story is from the May 18, 2022 edition of The New Indian Express Chennai.
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