NewDelhi: The Life Insurance Corporation of India (LIC) stock price have seen good surge in the past couple of months, with the company’s shares crossing retail IPO price of Rs 904 for the first time today (Wednesday, January 17)
LIC shares have hit intraday high of Rs 919.45 (52-week high Rs 919.45) on BSE, rising 73.41 percent from 52-week low of 530.20. Shares of LIC have risen 12.85 percent in the last one month and 28.17 in the last one year.
The price range for LIC`s issue was set between 902 and 949 rupees per share. LIC offered a discount to employees and retail investors of 45 rupees per share, while policyholders were given a discount of 60 rupees per share.
LIC shares had listed at 867 on BSE on May 17, 2022, falling nearly 8 percent on its market debut, despite the country`s largest ever IPO being oversubscribed at the top of the price range.
The insurance behemoth has touched 5.71 trillion market capitalisation. Analysts believe that the strong market capitalisation was witnessed on the back of LIC’s Jeevan Utsav plan which is an Individual, Savings, Whole Life Insurance plan with Guaranteed Additions throughout Premium Paying Term.
Bureau Report
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