LIC Share Closes 7.77 Percent Below IPO Price Investors Suffered Loss Of 47,000 Crore Rupees
LIC IPO Disappoints Investors: Both the indices of the Indian...
LIC IPO Disappoints Investors: Both the indices of the Indian stock market Sensex Nifty after 15 February 2022 where closed with the highest number of points in a single day. On the other hand, the stock of LIC, which was listed in the stock market on this day, disappointed the investors very much on the first day. LIC’s stock closed at Rs 875.25, down 7.77 per cent from its issue price of Rs 949.
47,000 crore loss on first day of listing
LIC investors have suffered huge losses on the 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 the closing of the first day of the stock on Tuesday, the market capitalization has come down to Rs 5,53,595 crore. That is, investors have to bear a loss of Rs 47,000 crore on the first day. Earlier in the morning, LIC’s stock was listed on BSE at Rs 867, which is 8.62 percent below the issue price.
Disappointing listing of LIC shares LIC Chairman MR Kumar assured investors that they will get better returns on investment in the long term. He said that since 1956, he has been continuously giving dividend to the government. So there is no need to warn investors.
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