LIC debut to test investors’ faith in equity market

The stock starts trading tomorrow at a time when markets worldwide are being roiled by the fallout of Russia’s invasion of Ukraine and rising interest rates.

MUMBAI: Millions of Indians investing in the country’s biggest listing could turn sour on the equity market if the stock follows the poor performance of its state-run predecessors.

Prime Minister Narendra Modi’s government raised US$2.7bil (RM11.9bil) by selling shares in Life Insurance Corp (LIC) of India, including to millions of families nationwide that hold LIC policies.