Lacklustre Debut For LIC, India's Biggest IPO, Shares Close 8% Lower: Developments

The insurance behemoth's shares ended at Rs 875.45, about 7.75 per cent lower than its issue price and almost flat from its listing price. LIC's shares traded between a low of Rs 860.10 and a high of Rs 920. India's biggest-ever IPO, state-owned insurance giant LIC, listed its shares at a discount of over 8 per cent on the BSE and the NSE on Tuesday. On the BSE, LIC launched at Rs 867.20 per share, a discount of 8.62 per cent fro...