Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Mon, 13 Jun 2022 01:48 PM IST
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Expansion
The decline in the shares of LIC, which is presenting the country’s largest IPO, continues. On Monday, its price broke down to Rs 700. If experts are to be believed, the company’s shares will see a further decline in the price in the coming days. Let us inform here that the lock-in period of anchor investors is ending today.
The effect of the end of the lock-in period of anchor investors is clearly visible in the shares of LIC. This can be gauged from the fact that on Monday, the price of its shares fell by four percent. The price of its shares has been falling continuously for the last nine trading sessions. Let us inform here that till Friday the last trading session of the last week, its issue price had fallen by more than 25 percent, which increased to 28 percent on Monday.
On Monday, LIC’s shares fell more than four per cent to Rs 681.70 on the Bombay Stock Exchange (BSE). Significantly, the issue price of LIC shares was Rs 949. Anchor investors had bought about 5.93 crore shares of the country’s largest insurance company after the launch of the IPO. In the earlier report, there was a possibility that due to the sale of shares of LIC by anchor investors, the fall in its price could be further accelerated.