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LIC IPO: Netizens share choicest memes on public insurer’s tepid listing 

LIC IPO: Netizens share choicest memes on public insurer’s tepid listing 

LIC listing: Soon after this became viral, netizens did what they do best -- share the choicest memes. From reminiscing about Paresh Rawal and Akshay Kumar-starrer comedy Hera Pheri to Prabhas and Pooja Hedge-starrer romantic drama Radhe Shyam, here’s how the Internet reacted to LIC’s tepid listing

The public issue was live from May 4-9 and the shares were offered at a price band of Rs 902-949 per share. The public issue was live from May 4-9 and the shares were offered at a price band of Rs 902-949 per share.

Public insurer Life Insurance Corporation of India made its debut at the bourses today. LIC listed at a discount of 8.62 per cent against the issue price of its IPO. LIC stock listed as ‘LICI’ at Rs 867.20 on the BSE and its market-cap stood at Rs 5.48 lakh crore. Total 1.5 lakh shares changed hands amounting to a turnover of Rs 13.03 crore on the bourse.  

The stock was listed at Rs 872 on the NSE, 8.11 per cent lower than the IPO price. LIC’s m-cap stood at Rs 5.51 lakh crore on the bourse and total 44.20 lakh shares of the firm changed hands leading to a turnover of Rs 385.4 crore on NSE.  

Soon after this became viral, netizens did what they do best -- share the choicest memes.  

From reminiscing about Paresh Rawal and Akshay Kumar-starrer comedy Hera Pheri to Prabhas and Pooja Hedge-starrer romantic drama Radhe Shyam, here’s how the Internet reacted to LIC’s tepid listing:  

About LIC IPO 

The public issue was live from May 4-9 and the shares were offered at a price band of Rs 902-949 per share. The government raised Rs 20,557 crore from this IPO and sold 3.5 per cent stake or over 22.13 crore shares. Post this IPO, the government’s stake stands at 96.50 per cent.  

The IPO was subscribed 2.95 times on the final day (May 9) and share sale received bids worth over 47.83 crore shares versus the total issue size of over 16.20 crore shares. Policyholders’ portion was subscribed 6.1 times whereas employees’ portion got subscribed 4.4 times. LIC IPO’s grey market premium or GMP stood at -12 and has fallen from Rs 85 on May 3.  

Also read: LIC stock makes tepid market debut, lists at 9% discount to issue price

Also read: LIC becomes fifth largest firm by market cap post market debut