LIC Share Listing / LIC shares fell by more than 12 percent as soon as it was listed, investors got a shock on the first day

After waiting for months, the shares of the government insurance company LIC were listed in the open market today. However, the beginning of LIC in the stock market did not go well. After trading at a premium below zero in the gray market, LIC shares were trading with a decline of over 12 per cent in the pre-open session on the BSE. In the pre-open, LIC's stock started the first day at Rs 829 with a loss of 12.60 per cent or Rs 119.60.

This first issue of LIC has proved to be the biggest IPO so far in the history of India. The price band for this IPO was fixed at Rs 902-949. For the first time, an IPO remained open on both the weekend. LIC's IPO, which was open for a record 6 days, got a good response in almost every category. However, the premium of LIC IPO in the gray market (LIC IPO GMP) has gone below zero before listing, due to which investors are showing signs of loss on the very first day.

The listing ceremony of the government insurance company started at 08:45 am. All the officials of LIC including BSE CEO and MD Ashish Kumar Chauhan, DIPAM secretary Tuhin Kant Pandey were present in the listing ceremony.