LIC Share Price News: LIC had fixed the issue price of its IPO at Rs 949. On Monday, it has fallen to the level of Rs 682, ie Rs 267 below its issue price.: LIC fixed the issue price of its IPO at Rs 949. On Monday, it has fallen to the level of Rs 682, ie Rs 267 below its issue price.
LIC Share Price: Amidst the huge fall in the stock market, a record decline has been registered in the stock of LIC. As soon as the lock-in period for anchor investors is over, LIC’s stock has slipped below Rs 700 for the first time with a fall of more than 3 per cent. LIC’s stock has made a low of Rs 682. At present, this stock is trading at Rs 288 with a fall of 2.95 per cent. LIC’s stock has fallen more than 27.50 per cent from its IPO price by over Rs 260.
Why did LIC share fall?
Actually, the lock-in period of anchor investors investing in LIC’s IPO has ended today. Anchor investors who are incurring huge losses on their investments are believed to be selling because of the selloff by anchor investors. Due to this pressure, the stock of LIC has slipped below Rs 700.
28 per cent less than the IPO price
LIC’s stock has fallen 28 per cent in the last 20 trading sessions after listing. LIC had fixed the issue price of its IPO at Rs 949. The stock had closed at Rs 682 on Monday. That is, Rs 267 less than its issue price.
Rs 1.64 lakh crore loss to investors
The fall in LIC’s stock has come as a big blow to the investors who had invested in the IPO, especially the retail investor. The market cap of LIC has come down to Rs 4.34 lakh crore. While the market capitalization of LIC as per the IPO value was estimated at Rs 6 lakh crore. That is, investors are now incurring a loss of Rs 1.64 lakh crore.
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