India’s LIC shares set to slide in market debut after record IPO

MUMBAI – Shares in state-owned Life Insurance Corp of India (LIC) were on track to debut at an 8% discount to their IPO price on Tuesday. LIC shares were trading at 872 rupees in pre-open trade compared to the offer price of 949 rupees.

(Reporting by Chandini Monnappa in Bengaluru and Nupur Anand in Mumbai; Writing by Aftab Ahmed; Editing by Edwina Gibbs)