The listing comes as India`s IPO market is slowing, with first-quarter proceeds raised through India`s primary markets worth $995 million via the three largest IPOs compared with $2.57 billion a year earlier.
India priced LIC`s record-breaking IPO last week at 949 Indian rupees ($12.20), the top of the indicated range. The government has raised around $2.7 billion from selling a 3.5% stake in LIC, the country`s top insurer, which is state owned.