LIC IPO Lists At 8% Discount On NSE, Made A Dull Market Debut

As expected, shares of Life Insurance Corporation of India (LIC) made a dull market debut on Tuesday

[{"selector":"#anim-ebf6eb3a-ee53-43e9-acbc-4c65062b3a33","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-db1d4d61-2725-47e7-a97c-3fe9e76c654f","keyframes":{"transform":["translate3d(-115.2381%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-193707dd-48ab-4944-8fa3-151259b67dea [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-13.133336029968682%, -7.515632417667149%) scale(0.6753246753246753)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":10000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

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.

[{"selector":"#anim-0cd76b5f-4e05-4292-8092-ad7e63e54048 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-13.133336029968682%, -7.515632417667149%) scale(0.6753246753246753)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":10000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-573fc2a3-0218-4bd7-851e-0cbe14cf7e4d","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f3e8b6cb-1c74-4997-96cb-86603f6d18a4","keyframes":{"transform":["translate3d(-117.14286%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

On the BSE, LIC shares started trading at ₹867.

[{"selector":"#anim-9c0033e5-f418-495f-823c-ea6774ce1035 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-13.133336029968682%, -7.515632417667149%) scale(0.6753246753246753)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":10000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-7ade9e1d-93fa-4a5d-b024-490176080cad","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5866d7f8-22cf-4981-b0ae-815b0d36c666","keyframes":{"transform":["translate3d(-115.2381%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-3fa44b2e-a3ad-4ddb-a7af-d1a20839ed3a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-13.133336029968682%, -7.515632417667149%) scale(0.6753246753246753)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":10000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-0b0c60ed-2967-4cd5-b4fd-59cbf41dacad","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6f306618-777f-4fa7-97c3-683391672fdf","keyframes":{"transform":["translate3d(-116.66667%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

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

[{"selector":"#anim-62971a36-cc38-4820-a736-97b391d74077 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-13.133336029968682%, -7.515632417667149%) scale(0.6753246753246753)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":10000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-d51cf812-13c4-4c89-97bd-85a64a259668","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0cbe6b98-ed5e-4d28-bb69-eb1605a14dcf","keyframes":{"transform":["translate3d(-116.02564%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The price range for LIC IPO was set between ₹902 and 949 per share. However, shares were allocated to investors on May 12 at the upper end of the price band.

[{"selector":"#anim-5827f3cb-a884-4511-b54b-3c68d1a8e7d6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-13.133336029968682%, -7.515632417667149%) scale(0.6753246753246753)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":10000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-da981a6b-e6f0-4b4a-a55a-61fc16e84f09","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-02aff828-fc52-45c0-acb8-b9a67bdb4d1c","keyframes":{"transform":["translate3d(-116.02564%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

LIC offered a discount to employees and retail investors of ₹45 per share, while policyholders were given a discount of ₹60.

[{"selector":"#anim-de6a7084-a368-47e8-aa02-e0c672965bdb [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-13.133336029968682%, -7.515632417667149%) scale(0.6753246753246753)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":10000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-47d9cf68-92c6-4a84-ac5c-b2b67dbab5d5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6371bb46-da5d-4f40-9d87-2b033a4874e2","keyframes":{"transform":["translate3d(-116.98718%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]