LIC board meet on May 30
Life Insurance Corporation of India (LIC) on Tuesday announced that its board will meet on May 30 to consider a dividend payout and approve financial results for the period ended March 31.
The country’s largest insurer said this in a regulatory filing to the stock exchanges. The announcement comes after a disappointing listing. In its debut last week, LIC had closed with a discount of nearly 8 per cent to its issue price of Rs 949. The stock on Tuesday ended at Rs 823.75, a rise of Rs 6.90 over the last close.
However, at this price, it still marks a discount of 13 per cent to the issue price.
Since the lacklustre listing, its investors have been pinning hopes on the corporation declaring a handsome dividend.
Shares of logistics firm Delhivery had a decent debut at the stock exchanges on Tuesday.
On the BSE, the share opened at Rs 493, a 1.23 per cent premium over the issue price of Rs 487 per share. It subsequently ended at Rs 537.25, a premium of 10.31 per cent over the issue price. At this price, it had a market capitalisation of Rs 38,924 crore. On the NSE, the Delhivery share closed at Rs 536.25
Delhivery had cut the size of the IPO to Rs 5,235 crore from Rs 7,460 crore planned earlier due to volatility.
After this, the public issue comprises fresh issuance of equity shares worth Rs 4,000 crore and an offer for sale (OFS) component of Rs 1,235 crore by existing shareholders.