LIC listing: After discounted debut, Macquarie sets Rs 1,000 as target

LIC listing: The debut was below expectations, and also lower than the discounted value at which shares were offered to policyholders (Rs 60 per share) and retail investors (Rs 45 per share)

Investors, including policyholders and retail participants, lost funds worth Rs 47,000 crore in Life Insurance Corporation of India’s (LIC’s) as the insurance behemoth’s market capitalization stood at Rs 5.53 trillion at the end of the trading session against IPO valuation of Rs 6 trillion.

The stock as the company debuted at an 8.6-per cent discount at Rs 867 apiece on the BSE, and dropped further to a low of Rs 860 in the intra-day trade.

It, however, erased losses partially to end at Rs 875 per share, down 8 per cent against its issue price of Rs 949. On the