LIC Share Price: The concern of investors, especially retail investors, is increasing in the IPO of the country’s largest insurance company LIC. Because the fall in LIC’s stock is not taking its name to stop. The stock of Life Insurance Corporation of India (LIC), which was listed on the stock exchange last week, fell to a low of Rs 801 on Thursday, the 8th day of trading. There is continuous selling in the stock. At the end of Thursday’s trading, LIC’s share closed at Rs 811.65, down 1.05 per cent.
LIC stock continues to fall
Due to the sell-off in LIC’s shares on Thursday, the stock fell to around Rs 801 from Rs 800 during the day’s trade. Which is the lowest level of the stock since listing. However, after a modest recovery, the stock closed at Rs 811. In terms of IPO price of Rs 949, the market capitalization of LIC was close to Rs 6,00,242 crore. Which has rolled close to Rs 5.13 lakh crore on Thursday. Investors are now incurring a loss of Rs 138 per share. That is, investors are facing a loss of Rs 87,000 crore.
where will the fall stop
On May 17, when LIC was listed on the stock exchange, it became the fifth largest company in the country in terms of market cap, leaving behind Hindustan Unilever. But now LIC is in sixth place. And as the decline is being seen in the stock, after that it can also slip to the seventh place.
IPO got a faint response
LIC’s Rs 20,557 crore IPO closed on May 9. And the price band of the IPO was kept at Rs 902-949 per share. LIC’s IPO got almost three times the subscription. Domestic investors took part in this, while the reaction of foreign investors was cold.