Since the listing, the stock of LIC has remained at a lower level than the issue price. It has gone up to a low of Rs 708.70 per share and a high of Rs 920 per share during this period.
New Delhi. There was a big buzz in the stock market regarding LIC’s IPO. Where after listing this stock has failed to attract investors. Since the listing, the stock of LIC has continued to decline. Meanwhile, the government on Friday said it was “concerned” over the fall in LIC’s stock. However, he called this decline temporary. The government said that the insurance company management will look into these aspects and try to enhance the value of the shareholders.
LIC’s stock was listed on May 17
LIC’s stock was listed on May 17 at Rs 872 per share. The government had fixed the issue price of LIC’s share at Rs 949 per share. Earlier, its Initial Public Offering (IPO) had received nearly three times subscription.
LIC’s stock remains at a lower level than the issue price
Since the listing, the stock of LIC has remained at a lower level than the issue price. It went up to a low of Rs 708.70 per share and a high of Rs 920 per share during this period. LIC’s stock closed at Rs 709.70 per share on BSE on Friday.
Dipam’s secretary expressed concern and said
Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) said, “We are concerned about the fall in the share price of LIC, this decline is temporary. LIC’s management will look after all these aspects and add value to the shareholders.”
