Faith of Millions of Small Investors Put to Test With LIC Debut

The bigger test will be how LIC stock performs over a longer period, which may be a disappointment if earlier state IPOs are any indication, including Coal India Ltd., General Insurance Corp. and New India Assurance Co. Ltd. GIC and New India Assurance, the two state-run insurers that were listed in 2017, have been the worst performers, trading about 75% below their IPO prices.

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