It is a nightmare come true for India’s largest ever IPO ...Middle East

Quartz - Economy
It is a nightmare come true for India’s largest ever IPO
source : Quartz ( Middle East ) () 34
India had pulled all stops to make the initial public offer (IPO) of the state-run giant Life Insurance Corporation of India (LIC) a success. Nothing seems to have worked.The company made a tepid debut on BSE today (May 17) at Rs867.2 ($11.2), a discount of 8.62% on its issue price of Rs949. On the National Stock Exchange, it got listed at a discount of 8.11%.The stock price rose to Rs918 apiece in early trade but was still below the issue price.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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