LIC Share Price Highlights: LIC shares end largely flat on second day post debut

LIC Share Price Highlights: The shares of insurance sector giant Life Insurance Corporation of India (LIC) gave up their morning gains and ended little changed on Wednesday, their second day in the stock market after a muted debut.

The stock ended at Rs 876.25 on the BSE, up 0.09 per cent from the previous close. On the other hand on NSE, it closed at Rs 874.75, down 0.06 per cent. The market capitalisation at noon stood at Rs 5,54,227.92 crore, BSE data showed. Earlier in the day, the LIC stock had opened at Rs 886.20 per share on the BSE, up 1.23 per cent from the previous close while on the National Stock Exchange (NSE), it had opened at Rs 885.55, up 1.18 per cent.

The Rs 21,000 crore blockbuster initial public offering (IPO) of LIC had witnessed a good response from the investors getting subscribed 2.95 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.