News Desk, AnyTV, New Delhi
Published by: Abhishek Dixit
Updated Fri, 10 Jun 2022 11:06 PM IST
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He also pointed out that the decline is temporary. The management of LIC is monitoring and reviewing all these aspects. Management is doing everything possible to increase value for shareholders.
Actually, 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. Since the listing, LIC’s stock 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.
LIC’s stock closed at Rs 709.70 per share on BSE on Friday. The market cap of LIC has come down from Rs 6 lakh crore to Rs 4.48 lakh crore since its listing. This means that in less than a month, the investors of LIC have suffered a loss of Rs 1.52 lakh crore.
Expansion
The days are not going well for the investors of Life Insurance Corporation of India (LIC) IPO. They are facing losses every day. Meanwhile, the government has issued an important statement for them. Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), said the government is concerned about the fall in LIC’s stock and is monitoring the matter.
He also pointed out that the decline is temporary. The management of LIC is monitoring and reviewing all these aspects. Management is doing everything possible to increase value for shareholders.
Actually, 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. Since the listing, LIC’s stock 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.
LIC’s stock closed at Rs 709.70 per share on BSE on Friday. The market cap of LIC has come down from Rs 6 lakh crore to Rs 4.48 lakh crore since its listing. This means that in less than a month, the investors of LIC have suffered a loss of Rs 1.52 lakh crore.