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The shares of insurance sector giant Life Insurance Corporation of India (LIC) debuted on the stock exchanges on a weak note on Tuesday. This led to the bombardment of hilarious memes and jokes on the social media platforms. Take a look!
LIC dominates India's insurance sector. The 66-year-old company was the fifth-biggest global insurer in terms of insurance premium collection in 2020. Even after that, shares got listed at a discount price.
Applicants, who have checked allotment status and were not allotted shares of LIC, will get back their money as initiation of the refund process began on Friday.
Applicants will be allocated LIC shares on May 12. Shares of the insurance giant will be listed on the stock market on May 17.
Those who have applied for the Life Insurance Corporation of India's (LIC) initial public offering (IPO) can check the status of their applications.