Sansad TV
The shares of insurance sector giant, LIC, made a tepid debut on the stock exchanges on Tuesday, listing at a discount of over 8% from their issue price. The LIC scrip opened at Rs 867.20 apiece on the BSE, down 8.62 per cent from the issue price of Rs 949.
On the National Stock Exchange (NSE), it opened 8.11 per cent lower at Rs 872.00 per share. The Rs 21,000 crore blockbuster initial public offering (IPO) of LIC had witnessed a good response from the investors getting subscribed nearly three times after a marathon 6-day subscription period from May 4-9. The issue price of LIC was fixed at Rs 949 apiece for allotment to investors. All policyholders and retail investors got the shares at a price of Rs 889 and Rs 904 apiece, respectively, after taking into account the discount offered. The government had offered a discount of Rs 60 per share for the policyholders and Rs 45 apiece for retail investors and LIC employees.In Perspective today, we take a look at what led to a weak listing, was it anticipated owing to the market conditions? We’ll also try and get an insight from experts on how have some other big IPOs fared on the listing day?
Guests:
1- Vijay Bhushan, Past President,Association of National Exchanges Members of India
2- Subhash C. Aggarwal, Chairman & Managing Director, SMC Group
3- Saurabh Chandra, Former Secretary, DIPP, Ministry of Commerce and Industry
Anchor: Teena Jha
Producer: Pardeep Kumar
Assistant Producer: Surender Sharma
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