LIC shares get listed on stock exchanges at 9% discount

India's largest insurer Life Insurance Corporation (LIC) listed its shares on the stock exchanges on Tuesday. The stock opened at ₹867.20, a discount of 8.62% over its issue price of ₹949. The ₹20,557-crore IPO had closed on May 9. The LIC IPO was India's largest to date and had closed with nearly 3 times subscriptions.