LIC becomes fifth largest firm by market cap post market debut

State-owned Life Insurance Corporation (LIC) has become the fifth-largest firm by market capitalisation post its market debut today. The market cap of the firm rose to Rs 5.70 lakh crore post listing on BSE. On NSE too, the market cap of the firm stood at nearly Rs 5.70 lakh crore.

Its market capitalisation lags behind Reliance Industries (Rs 16.74 lakh crore), TCS (Rs 12.38 lakh crore), HDFC Bank (Rs 7.23 lakh crore), Infosys (Rs 6.30 lakh crore) on BSE.

At 10:19 am, the stock was trading at Rs 903.85, 4.76 percent lower to the issue price of Rs 949 on BSE. However, the stock was trading 4.24 per cent higher to the listing price.

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On NSE, the stock was trading 4.75 percent lower at Rs 903.90 comparted to the listing price.

The stock listed at Rs 867.20 on BSE. Market cap of LIC stood at Rs 5.48 lakh crore at the time of listing. Total 1.5 lakh shares of the firm changed hands amounting to a turnover of Rs 13.03 crore on BSE.

The price band of the IPO was Rs 902-Rs 949.

On NSE, the stock listed at Rs 872, 8.11 per cent lower to the IPO price. Market cap of the firm fell to Rs 5.51 lakh crore. Total 44.20 lakh shares of the firm changed hands amounting to a turnover of Rs 385.4 crore on NSE.