LIC's debut 2nd-worst among 11 global companies that listed this year after raising $1bn

Investors of Life Insurance Corporation of India (LIC) lost over ₹50,000 crore on the stock's debut on May 17. Its first-day performance makes for the second-worst debut among 11 global companies that listed this year after raising at least $1 billion through first-time share sales. The shares ended 7.8% lower than the IPO price of ₹949 after losing 9.4% earlier.