India’s largest ever IPO has met its nightmare scenario

India had pulled out all the stops to make the initial public offering (IPO) of state giant Life Insurance Corporation of India (LIC) a success. The company made a tepid debut on the BSE today (May 17) at Rs 867.2 ($11.2), a discount of 8.62% to its issue price of Rs 949. It was listed on the National Stock Exchange at a discount of 8.11%.

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