LIC Share Price: LIC’s stock is making a new record of decline every day and its fate is also becoming similar to that of Paytm. Today on June 17, 2022, the stock of LIC fell to a low of Rs 651. However, at the end of the day’s trading, the stock closed at 654.55. The market capitalization of LIC’s stock has come down to Rs 4.14 lakh crore.
Shares fell 31% below IPO price
LIC’s stock has come down about 31 percent from its IPO price. LIC’s IPO came at Rs 949 per share. But now the stock has come down to Rs 654. That is, Rs 295 below the IPO price. The market cap of LIC was Rs 6 lakh crore according to the IPO price, which has come down to Rs 4.14 lakh crore. That is, there has been a dent of Rs 1.86 lakh crore in the market capitalization of LIC.
How far will LIC fall?
LIC’s stock continues to decline since its listing on the stock exchange. Due to which the concern of investors investing in IPO, especially retail investors has increased. For anchor investors, the downside is increasing after the end of the lock-in period. Anchor investors who have invested in LIC’s IPO are incurring huge losses on their investments. According to data compiled by Bloomberg, LIC’s IPO ranks second in Asia in terms of reduction in market capitalization since listing.