News Details
Category : IPO
Headline : Life Insurance Corporation of India debuts with 8.61% discount at Rs 867.20
Date: 17/05/2022 09:50
Life Insurance Corporation of India makes a weak debut on the bourses with scrip got listed at Rs 867.20 on the Bombay Stock Exchange, a 8.61 per cent discount to its issue price of Rs 949.00. On the National Stock Exchange, the stock was listed at Rs 872.00.

The company, which raised 22.14 Cr from initial public offering, was subscribed 2.95 times, receiving bids for 6,530.56 lakhs shares against the total issue size of 2,213.75 lakhs shares.

The company, listed under A Group Securities post its IPO, opened for subscription from May 04 to May 09.

Following a weak opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the BSE.

The company anticipates using the proceeds of the issue for .

Axis Capital Ltd.,JP Morgan India Private Limited.,Kotak Mahindra Capital Company Ltd.,Citigroup Global Markets India Private Limited,Nomura Financial Advisory & Securities (I) P Ltd.,JM Financial Ltd.,Goldman Sachs (India) Securities Pvt. Ltd.,SBI Capital Markets Limited,BofA Securities India Limited,ICICI Securities Ltd as lead managers & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 52,973.84, up 180.22 points, or 0.34 per cent.