Public Insurance Life Insurance Corporation of India has made its debut in the stock market today. LIC is listed at 8.62 per cent off the issue price of its IPO. The LIC stock is listed as ‘LICI’ on the BSE at Rs 867.20 and has a market cap of Rs 5.48 lakh crore. A total of 1.5 lakh shares changed hands with a turnover of Tk 13.03 crore.
The stock is listed on the NSE at Rs 872, down 8.11 percent from the IPO price. LIC’s M-Cap stock stood at Rs 5.51 lakh crore and a total of 44.20 lakh shares of the firm changed hands, resulting in a turnover of Rs 385.4 crore on the NSE.
As soon as it went viral, netizens did what they could – share favorite memes.
Reminiscent of comedy starring Paresh Rawal and Akshay Kumar Hera Ferry In the romantic drama starring Prabhas and Pooja Hedge Radhe ShyamHere’s how the Internet responded to LIC’s subtle list:
About LIC IPO
The public issue was live from May 4-9 and the shares were offered in the price band of Rs 902-949 per share. The government raised Rs 20,557 crore from the IPO and sold 3.5 per cent shares or more than 22.13 crore shares. Following this IPO, government shares stood at 96.50 percent.
On the final day (May 9), the IPO was subscribed 2.95 times and the share sale received a bid of over 47.83 crore shares against the total issue size of over 16.20 crore shares. Policyholders have been subscribed 6.1 times while employees have been subscribed 4.4 times. LIC stands at IPO’s Gray Market Premium or GMP-12 and declined from Rs 85 on May 3.
Read more: LIC stock makes smooth market debut, listing 9% discount for issue price
Read more: LIC has become the fifth largest company in the market cap market with its debut