India's Life Insurance Corp set for lacklustre market debut, analysts say

India priced LIC's record-breaking IPO last week at 949 Indian rupees ($12.20), the top of the indicated range.

MUMBAI:Life Insurance Corp is likely to see a lacklustre debut when it lists on Indian stock exchanges on Tuesday despite the $2.7 billion initial public offering being oversubscribed, analysts said.

India priced LIC's record-breaking IPO last week at 949 Indian rupees ($12.20), the top of the indicated range. The government has raised around $2.7 billion from selling a 3.5% stake in LIC, the country's top insurer, which is state owned. Read full storyRead full story