LIC stock rises for two sessions after anchor investor lock-in ends
Shares of LIC, which closed at Rs 668.2 on June 13 ended at Rs 690.45 today, translating into a gain of 3.32 per cent during the period.
- Jun 15, 2022,
- Updated Jun 15, 2022 4:49 PM IST
Shares of Life Insurance Corporation (LIC) have risen for the two straight sessions after the lock-in period for anchor investors in the country's largest initial public offering (IPO) ended on June 13. The stock, which closed at Rs 668.2 on June 13 ended at Rs 690.45 today, translating into a gain of 3.32 per cent during the period.
The shares of India's largest insurer closed lower in the ten sessions preceding June 14. The large cap stock touched a high of Rs 709.70, rising 5.26 per cent intraday today against the previous close of Rs 674.20 on BSE. The market capitalisation of the public sector insurer rose to Rs 4.36 lakh crore today.
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On NSE, the stock ended 2.55 per cent higher at Rs 691.50. It rose 5.24 per cent intraday to Rs 709.70. Total 4.76 lakh shares of the firm changed hands amounting to a turnover of Rs 33.15 crore on BSE.
The lock-in period which ended on June 13, allowed anchor investors to sell their shares in the market. The stock closed at Rs 668.2 in the same session, down Rs 709.7 or 5.84 per cent on BSE.
The state-owned insurer had collected a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO). The portion reserved for anchor investors (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share. Domestic insurance companies and pension funds had participated in the anchor issue.
Some of the prominent names in this category included ICICI Prudential Life Insurance, SBI Life Insurance, Kotak Mahindra Life Insurance, PNB Metlife Insurance, SBI Pension Fund and UTI Retirement Solutions Pension Fund Scheme. Foreign participation included the Government of Singapore, Monetary Authority of Singapore, Government Pension Fund Global, and BNP Investment LLP.
LIC stock made a tepid market debut on May 17, opening at a discount of 8.62 per cent against the IPO issue price. The company offered its stock in a price band of Rs 902- Rs 949. It was listed at Rs 867.20 on BSE. On NSE, the stock was listed at Rs 872, 8.11 per cent lower than the IPO price.
Shares of Life Insurance Corporation (LIC) have risen for the two straight sessions after the lock-in period for anchor investors in the country's largest initial public offering (IPO) ended on June 13. The stock, which closed at Rs 668.2 on June 13 ended at Rs 690.45 today, translating into a gain of 3.32 per cent during the period.
The shares of India's largest insurer closed lower in the ten sessions preceding June 14. The large cap stock touched a high of Rs 709.70, rising 5.26 per cent intraday today against the previous close of Rs 674.20 on BSE. The market capitalisation of the public sector insurer rose to Rs 4.36 lakh crore today.
Share Market update: Sensex falls 152 points, Nifty below 15,700; NTPC, Infosys top losers
On NSE, the stock ended 2.55 per cent higher at Rs 691.50. It rose 5.24 per cent intraday to Rs 709.70. Total 4.76 lakh shares of the firm changed hands amounting to a turnover of Rs 33.15 crore on BSE.
The lock-in period which ended on June 13, allowed anchor investors to sell their shares in the market. The stock closed at Rs 668.2 in the same session, down Rs 709.7 or 5.84 per cent on BSE.
The state-owned insurer had collected a little over Rs 5,627 crore from anchor investors led primarily by domestic institutions ahead of its mega initial public offering (IPO). The portion reserved for anchor investors (5,92,96,853 equity shares) was subscribed at Rs 949 per equity share. Domestic insurance companies and pension funds had participated in the anchor issue.
Some of the prominent names in this category included ICICI Prudential Life Insurance, SBI Life Insurance, Kotak Mahindra Life Insurance, PNB Metlife Insurance, SBI Pension Fund and UTI Retirement Solutions Pension Fund Scheme. Foreign participation included the Government of Singapore, Monetary Authority of Singapore, Government Pension Fund Global, and BNP Investment LLP.
LIC stock made a tepid market debut on May 17, opening at a discount of 8.62 per cent against the IPO issue price. The company offered its stock in a price band of Rs 902- Rs 949. It was listed at Rs 867.20 on BSE. On NSE, the stock was listed at Rs 872, 8.11 per cent lower than the IPO price.