Life Insurance Corporation of India (LIC) failed to cheer investors on its listing day, as its shares debuted at an 8.6 percent discount at Rs 867 apiece on the BSE. On the National Stock Exchange (NSE), the shares debuted at Rs 872, down 8.1 percent against the issue price of Rs 949.
The debut was below expectations, and also lower than the discounted value at which shares were offered to policyholders (a discount of Rs 60 per share).
"Due to the volatile market conditions amid which LIC’s stock is listing, it may not provide listing gains. New investors who have got an allotment should not feel disappointed due to this. We strongly believe LIC’s stock is a sound long-term bet. If you hold on to this stock for more than three years, you are likely to earn decent returns,” say experts.