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LIC shares fall 13% below IPO price, investors lose Rs 78,000 crore – News

LIC Share Price: The decline in the shares of Life Insurance Corporation of India (LIC), the country’s largest state-run insurance company, which was listed on the stock exchange this week, is not stopping. On Friday, when the stock market closed with great momentum, LIC’s stock saw a fall of about 2 percent. LIC’s stock closed at Rs 825.15, down 1.75 per cent. That is, the stock of LIC is trading 13 percent below its IPO price of Rs 949.

LIC is no longer the fifth largest company
On the day of listing on the stock market on Tuesday, LIC had become the fifth largest company in the country in terms of market capitalization. But on the fourth day of listing, this tag was snatched from him. Hindustan Unilever has left LIC behind. And now HUL Hindustan Unilever has become the fifth listed company in the country with a market cap of Rs 5.46 lakh crore. The market capitalization of LIC is close to Rs 5.22 lakh crore and it is the sixth largest listed company. ,

78,000 crore loss to investors
The investors of LIC have suffered huge losses from the very first day of listing of the shares. The market capitalization of LIC in terms of IPO price was close to Rs 6,00,242 crore. But after Friday’s closing of the stock, the market capitalization has come down to Rs 5,22,602 crore. That is, investors have suffered a loss of about Rs 78,000 crore in the last four trading sessions.

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