LIC IPO Listing: LIC shares fall, trading at 7% below issue price

The Mega Initial Public Offering (IPO) of Life Insurance Corporation of India (LIC), the country's largest life insurance company, got listed on the stock market today, ie on May 17. LIC shares are listed with discount. LIC's stock is listed on NSE at Rs 872, down by Rs 77 i.e. 8.11% whereas on BSE it is listed at 867.

After the initial fall, LIC has made up for some loss, LIC was trading at Rs. LIC's IPO today touched an intraday high of Rs 920 and an intraday low of Rs 860.10. At the same time, at 12:22, the stock was trading at Rs 890.05, down by Rs 58.95, which means 6.21 percent.

According to the listing price, the market cap of LIC stood at Rs 5.48 lakh crore. Mukesh Ambani's Reliance Industries Limited is the most valuable company in the country with a market cap of Rs 16.42 lakh crore. After this comes the number of TCS, HDFC Bank and Infosys Ltd.

According to the official website of LIC "The Parliament of India passed the Life Insurance Corporation Act on 19th June 1956, and the Life Insurance Corporation of India was established on 1st September, 1956. Its objective is to expand life insurance more broadly and specifically. It was to be spread mainly in rural areas so that it can reach all the insurable persons in the country and provide them adequate financial cover at reasonable cost.