Life Insurance Corporation's public offer started with widespread fanfare, but apart from a euphoric subscription, it has all been downhill for the insurance behemoth. India's biggest initial public offering (IPO) received an overwhelming response with its issue oversubscribed nearly three times, which has turned out to be the only bright spot in the so-called phase termed "LIC 2.0."
The Life Insurance Corporation's (LIC) record Rs 21,000 crore initial public offering (IPO) received tremendous demand; however, the insurance behemoth risks listing its shares at a lower price on stocks exchanges on Tuesday.
The Supreme Court on Thursday refused to grant any interim relief and stay the Life Insurance Corporation (LIC) IPO share allotment on a batch of pleas filed by some policy holders.