A man speaks on his mobile phone standing next to a Life Insurance Corporation of India (LIC) sign ahead of the company’s listing ceremony at the Bombay Stock Exchange (BSE) in Mumbai on Tuesday. Photo: AFP
India’s LIC shares tumble 7 per cent in market debut after record US$2.7 billion IPO
- At one point, LIC shares plunged as much as 9 per cent before paring losses. LIC dominates India’s insurance sector with more than 280 million policies
- LIC’s IPO raised US$2.7 billion, with buyers including sovereign funds in Norway and Singapore, and millions of small-time Indian investors
A man speaks on his mobile phone standing next to a Life Insurance Corporation of India (LIC) sign ahead of the company’s listing ceremony at the Bombay Stock Exchange (BSE) in Mumbai on Tuesday. Photo: AFP
