Nupur Acharya Filipe Pacheco And Ashutosh Joshi Bloomberg

Disappointed by a 7.8% plunge that made for the world's second-worst trading debut among large IPOs this year, shareholders of state-run Life Insurance Corp. of India will be counting on a bumper dividend if Prime Minister Narendra Modi's government wants them to stay put.

State-run insurer Life Insurance Corporation of India slumped in its Mumbai trading debut after a record initial public offering that priced at the top of the range and was oversubscribed nearly three times.

Disappointed by a 7.8% plunge that made for the world's second-worst trading debut among large IPOs this year, shareholders of state-run Life Insurance Corp. of India will be counting on a bumper dividend if Prime Minister Narendra Modi's government wants them to stay put.

State-run insurer Life Insurance Corporation of India slumped in its Mumbai trading debut after a record initial public offering that priced at the top of the range and was oversubscribed nearly three times.