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On the technical charts, the 200-day moving average of the stock stood at Rs 910.76.

As per the final papers filed with Sebi, the allotment of shares to the demat account of bidders will happen by May 16, post which LIC would commence trading of equity shares in the stock exchanges and list "on or about May 17".

“This will be a year where benchmark returns would be rather difficult to get but it is a year where sector rotation will be far more important and that is what we need to focus on. Rising yield is a reality, rising commodity prices is a reality, we will have to guide our portfolio through these worries and maybe look at potential winners.”

A total of 50,679 shares changed hands on the counter till 01:39PM (IST).

“LIC IPO is right sized, given the constraints in the market. LIC IPO will not crowd out capital and monetary supply in the market,” said Tuhin Kanta Pandey, Secretary, DIPAM, which is the government agency that looks after investments and divestments.

Last month, the BSE said that registered investor accounts in India had touched the Rs 10 crore mark. The BSE had reached 1 crore investor accounts in 2008.

Promoters held 54.92 per cent stake in the company as of 31-Mar-2022, while FII and DII ownership stood at 16.53 per cent and 0.14 per cent, respectively.

In a regulatory filing by the rating agency the company informed the bourses that Ajay Mahajan has resigned as the managing director and chief executive officer (MD and CEO) of the company citing personal reasons. Following the development, CARE Rating tumbled 18 per cent to Rs 450 on Wednesday, its new 52-week low, before trading at R 458.35 at 11.45 am. The scrip had settled at Rs 548.60 on Tuesday.

The footwear manufacturer is eyeing to raise Rs 1,400.16 crore via its initial stake sale, which is entirely an offer for sale from the promoters and existing shareholders. The issue was subscribed 1.24 times by the end of day 1.

As of 31-Mar-2022, promoters held 51.45 per cent stake in the company, while FIIs held 19.49 per cent and domestic institutional investors had 9.06 per cent.