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LIC Share Price Today LIVE Updates: LIC shares end largely flat on second day post debut

LIC Stock LIVE News Updates, LIC Share Price Today: On the BSE, the LIC stock opened at Rs 886.20 per share, up 1.23 per cent from the previous close while on the National Stock Exchange (NSE), it opened at Rs 885.55, up 1.18 per cent.

By: Express Web Desk | New Delhi |
Updated: May 18, 2022 5:11:12 pm
LIC Listing, LIC IPO listingLIC IPO Listing on BSE, NSE Today Live: LIC (Life Insurance Corporation of India) logo is seen displayed in this illustration taken, February 15, 2022. (REUTERS/Illustration/File Photo)

LIC Share Price Today Live News Updates: The shares of insurance sector giant Life Insurance Corporation of India (LIC) gave up their morning gains and ended little changed on Wednesday, their second day in the stock market after a muted debut.

The stock ended at Rs 876.25 on the BSE, up 0.09 per cent from the previous close. On the other hand on NSE, it closed at Rs 874.75, down 0.06 per cent. The market capitalisation at noon stood at Rs 5,54,227.92 crore, BSE data showed. Earlier in the day, the LIC stock had opened at Rs 886.20 per share on the BSE, up 1.23 per cent from the previous close while on the National Stock Exchange (NSE), it had opened at Rs 885.55, up 1.18 per cent.

The Rs 21,000 crore blockbuster initial public offering (IPO) of LIC had witnessed a good response from the investors getting subscribed 2.95 times after a marathon 6-day subscription period from May 4-9. The issue price of LIC was fixed at Rs 949 apiece for allotment to investors. All policyholders and retail investors got the shares at a price of Rs 889 and Rs 904 apiece, respectively, after taking into account the discount offered. The government had offered a discount of Rs 60 per share for the policyholders and Rs 45 apiece for retail investors and LIC employees.

Live Blog

Follow this space for all the LIVE updates on LIC shares:

17:06 (IST)18 May 2022
LIC share price at end of trade

Shares of LIC ended little changed on Wednesday.

The stock ended at Rs 876.25 on the BSE, up 0.09 per cent from the previous close. On the other hand on NSE, it closed at Rs 874.75, down 0.06 per cent.

12:06 (IST)18 May 2022
LIC share price at noon

At 12:00 pm, the LIC stock was trading at Rs 881.95 on the BSE, up Rs 6.50 (0.74 per cent) while on NSE, it was at Rs 882.00, up Rs 6.75 (0.77 per cent).

The market capitalisation at noon stood at Rs 5,57,833.17 crore.

Around 6.36 lakh shares of LIC were traded on the BSE so far while over 59.51 lakh shares exchanged hands on the NSE.

09:24 (IST)18 May 2022
LIC shares open over 1% higher

The shares of Life Insurance Corporation Of India (LIC) opened over 1 per cent higher on Wednesday.

On the BSE, the stock opened at Rs 886.20 per share, up 1.23 per cent from the previous close while on the NSE, it opened at Rs 885.55, up 1.18 per cent.

16:23 (IST)17 May 2022
Explained: Here’s why you should not look at listing gains alone

On Tuesday (May 17), shares of Life Insurance Corporation (LIC) started trading at Rs 867.20 – at a discount of 8.62 per cent – on the BSE as against the issue price of Rs 949 per share, disappointing investors. The share was trading at Rs 880.50, a discount of 7.22 per cent, at 2.30 pm IST even as the volatile stock markets staged a rally, with the Sensex jumping nearly 1,190 points, or 2.25 per cent, intra-day. Click here to read

15:50 (IST)17 May 2022
LIC settles 8.01% lower from issue price on NSE

The shares of insurance sector giant Life Insurance Corporation of India (LIC) made a weak debut in the stock exchanges today listing over 8 per cent lower from their issue price.

The LIC scrip had opened at Rs 867.20 apiece on the BSE, down 8.62 per cent from the issue price of Rs 949. On the NSE, it opened 8.11 per cent lower at Rs 872.00 per share.

Throughout its first session, the stock traded lower from the issue price, hitting a high of Rs 920.00 on BSE and Rs 918.95 on NSE. On the lower side the stock touched Rs 860.10 on BSE and Rs 860.00 on NSE.

Eventually it settled at Rs 875.45 on the BSE, down Rs 73.55 (7.75 per cent) from the issue price and at Rs 873.00, down Rs 76 (8.01 per cent) on the NSE.

15:07 (IST)17 May 2022
Post Listing ​​View on LIC | Vinod Nair, Head of Research at Geojit Financial Services

"The subdued listing of LIC is in-line with expectations in context to the drop in market dynamics from the opening of the IPO to the listing date. The listing price has fallen in tandem with the fall of insurance sector valuations, maintaining the discount of about 70% to the industry’s average. Positively, the stock was brought at the dip. We believe that LIC is a decent investment opportunity in the short to medium-term considering its strong market presence, improvement in future profitability due to the changes in surplus distribution norms and strong sector growth outlook. LIC can perform well when we have a bounce in the market and positive performance of the insurance sector"

11:58 (IST)17 May 2022
Post Listing ​​View on LIC | Mohit Ralhan, Managing Partner at TIW Capital Group

"The 8% lower debut of LIC shares is a commentary on the current state of global markets rather than the company itself. In terms of subscription, the LIC IPO was extremely successful given the fact that it was the biggest IPO of India. LIC has a solid business, trusted brand, and market leadership in an underpenetrated insurance market. In FY-21, LIC’s market share was about 75% for individual policies and 81% for group policies. It is the top life insurance company by a wide margin. The insurance industry in India is growing at an annual rate of about 15% and the growth is expected to sustain over a long period of time given that insurance penetration in India is a meagre 3.2% which tends to be more than 8% for developed economies and it is about 5% in China. LIC is a typical blue-chip company which is expected to give steady returns over a long period of time and therefore returns over a day is not relevant. It is expected to remain quite attractive for investors."

11:35 (IST)17 May 2022
Post Listing ​​View on LIC | Ravi Singh, Vice President and Head of Research at ShareIndia Securities

"The higher price band of LIC ipo along with the current market volatility has pushed the ipo to list at discount. However, insurance sector outlook is attractively positioned to deliver good returns and long term investors with an investment horizon of 3-5 years may remain in the LIC stock."

11:26 (IST)17 May 2022
Post Listing ​​View on LIC | Hemang Jani, Head - Equity Strategy, Broking and Distribution at Motilal Oswal Financial Services

"Though LIC listing has been below the issue price of Rs. 949, given the attractive valuations and stability in the markets, we expect some buying interest in the stock both from retail and intuitional investors. Since large amount of money has been released post listing of LIC, part of this money could get diverted into equity markets."

11:22 (IST)17 May 2022
Post Listing ​​View on LIC | Parth Nyati, Founder at Tradingo

"The insurance behemoth LIC Ltd. has debuted at Rs. 872 i.e. 7% below its issue price. The company’s weak listing can be attributed to high volatility in the markets and negative market sentiments. The company is synonymous with insurance in India and enjoys a phenomenal brand recall. We believe India’s highly underpenetrated life insurance space is still at a nascent stage and is attractively positioned to capture the huge growth opportunity. LIC enjoys many competitive advantages like strong brand value, extremely large scale of operations, a huge network of agents, and an envious distribution network, further, the company’s issue was priced at a Price to Embedded value of 1.1x, providing a valuation comfort, so we suggest investors to stay with the company for the long term despite the negative listing. Those who applied for listing gains can maintain a stop loss of Rs. 800. New investors can take advantage of the dips to accumulate this share for the long term. We would like to add that the company's further downside will be limited due to low float post listing."

11:18 (IST)17 May 2022
Post Listing ​​View on LIC | Santosh Meena, Head of Research at Swastika Investmart

"India's largest insurance company has debuted at Rs. 872 i.e. 7% below its issue price. The current market is not conducive for primary issues and LIC being the largest IPO has witnessed a negative listing, the current market volatility has weighed down on the insurance titan’s listing. However, the prospects for the insurance industry in India are good due to the under penetration of insurance and a long runway of growth; hence LIC being the largest player will be the beneficiary in the long term. Insurance is a business of scale, and there is no company to match the scale of LIC, so we suggest investors not be bothered about the negative listing and stay with the company for the long term.  Those who applied for listing gains can maintain a stop loss of Rs. 800. New investors can take advantage of the dips to accumulate this share for the long term. Another point to note has that, LIC didn’t pay any dividends in the last financial year, so there are high chances that the company might declare a good dividend this year, thus making it a good dividend play."

10:16 (IST)17 May 2022
Visuals: LIC being listed on the stock exchanges

Here's how the country's largest life insurer got listed on the stock exchanges today.

10:05 (IST)17 May 2022
LIC shares debut at 8.62% discount from issue price on BSE

The shares of insurance sector giant LIC debuted the stock exchanges on a weak note on Tuesday with the shares listing 8.62 per cent lower from the issue price.

The LIC scrip opened at Rs 867.20 on the BSE, down 8.62 per cent from the issue price of Rs 949. On the NSE, 8.11 per cent lower at Rs 872.00.

Following the listing bell, at 10:01 am, the LIC stock was trading at Rs 908.05 per share on BSE, down Rs 40.95 (4.32 per cent) while on NSE it was at 914.90, down Rs 34.10 (3.59 per cent).

The market cap stood at Rs 5,74,341.42 crore, data showed on the BSE.

09:50 (IST)17 May 2022
LIC Listing: pre-open rates

Life Insurance Corporation of India (LIC) opens at Rs 867.20 per share on BSE and Rs 872.00 on NSE against it's issue price of Rs 949.00.

18:01 (IST)16 May 2022
How big is LIC?

LIC is the country’s oldest and largest life insurance firm. It was formed by merging and nationalising 245 private life insurance companies on September 1, 1956, with an initial capital of Rs 5 crore. LIC now manages around Rs 40 lakh crore assets and is the fifth-largest life insurer globally and the largest asset manager in the country.

As of December 31, 2021, it covered 91 per cent of all districts and had 1.33 million individual agents, and had a market share of 61.6 per cent in terms of premiums or GWP, 61.4 per cent in terms of New Business Premium, 71.8 per cent in terms of number of individual policies issued, and 88.8 per cent in terms of number of group policies.

It is owned by the central government which sold 22.13 crore (22,13,74,920) shares or 3.5 per cent of its stake in LIC through the public offering. The IPO was entirely an offer-for-sale (OFS) and the government raised over Rs 21,000 crore through the sale.

17:52 (IST)16 May 2022
Pre Listing ​​View on LIC IPO | Aayush Agrawal, Senior Analyst at Swastika Investmart

'We anticipate that LIC might have a flat listing tomorrow, based on the current market situation. Due to increased inflation statistics, FII outflows, currency weakness, geopolitical and rate hike-related worries, present markets are experiencing extraordinary volatility, this has caused sell-offs in equity markets all over the world.According to recent grey market patterns, the company's unlisted shares were selling at Rs 936 per share on Saturday, a discount of Rs 13 to the IPO price band's upper range. However, the stock's modest float may limit the stock's post-listing decline.LIC is synonymous with insurance in India and enjoys a huge competitive advantage in terms of brand value and huge network of agents. However, there are concerns with the company like losing market share to private players, lower profitability & revenue growth compared to private players, lower VNB margins and short-term persistency ratios, but the valuation at Price to Embedded Value of 1.1 had discounted the above concerns. Nevertheless, investors must be aware that the business of insurance is long term in nature; therefore we recommend investors to stay with the company for the long term even if the company lists at a discount.'

17:44 (IST)16 May 2022
LIC IPO priced at Rs 949 each

The government raised 205.6 billion rupees ($2.7 billion) as its biggest ever initial public offering priced at the top of the range following strong demand from local investors and a last-minute dash by foreign funds.

Life Insurance Corporation of India shares have been priced at 949 rupees each, the state-run firm said in a prospectus filed Friday. Click here to read

17:42 (IST)16 May 2022
LIC IPO shares allotted on May 12

Shares from the LIC IPO were allotted to investors on Thursday, May 12, 2022.

The issue was subscribed 2.95 times over the 16.20 crore shares that were on offer during the subscription period. Click here to read

The shares of LIC had debuted the stock exchanges on a weak note on Tuesday listing at a discount of over 8 per cent from their issue price. The LIC scrip opened at Rs 867.20 apiece on the BSE, down 8.62 per cent from the issue price of Rs 949. On the National Stock Exchange (NSE),  it opened 8.11 per cent lower at Rs 872.00 per share.

Throughout its first session, the LIC stock traded lower from the issue price, hitting a high of Rs 920.00 on BSE and Rs 918.95 on NSE. On the lower side the stock touched Rs 860.10 on BSE and Rs 860.00 on NSE. Eventually it settled at Rs 875.45 on the BSE, down Rs 73.55 (7.75 per cent) from the issue price and at Rs 873.00, down Rs 76 (8.01 per cent) on the NSE. The market capitalisation of the company at the end of the first day stood at Rs 5,53,721.92 crore, according to the BSE data.

The government sold over 22.13 crore shares or a 3.5 per cent stake in LIC through the IPO. The price band of the issue was Rs 902-949 a share. However, shares were allocated to investors on May 12 at the upper end of the price band.

The LIC IPO - India's largest to date - closed with 2.95 times subscription, predominately led by by retail and institutional buyers, but foreign investor participation remained muted.

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