The insurance giant had a market cap of around Rs 6.5 lakh crore on listing. But after breaking one-third, now the company’s market cap is only Rs 4.17 lakh crore.
Facts
- LIC’s stock fell 5 percent in the current week
- The company’s stock stood at 654.35 at the close of the market
- Listing price down 32 per cent against Rs 949 per share
The trouble for the investors investing in the IPO of Life Insurance Corporation (LIC) seems to be increasing at the moment. The stock continues to decline. In such a situation, those who invest money in IPO are neither keeping these shares nor getting any chance to sell them.
In the current week, LIC’s stock lost 5 percent. However, there was a rise in the stock in the middle of the week. But by the end of the week, the despair grew. LIC’s shares reached a new low on Friday morning after falling about 2 per cent. The company’s stock stood at 654.35 at the close of the market. Which is down 32 per cent against its listing price of Rs 949 per share.
Investors will have to bear heavy losses, know why
LIC’s stock was listed on May 17 after the Rs 21,000 crore IPO. The insurance giant had a market cap of around Rs 6.5 lakh crore on listing. But after breaking one-third, now the company’s market cap has been reduced to Rs 4.17 lakh crore. Since listing, LIC has registered a decline of 32 per cent from its issue price of Rs 949 per share.
Once again the government is worried about the decline
Investors are not only losing their sweat due to the fall in LIC, but the government is also getting scolded. Recently, the government had expressed concern about the fall in LIC’s stock. Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) had said that we are concerned about the fall in the share price of LIC. However, he said that this decline is temporary.
