LIC IPO: Rs 1.8 lakh crore loss! Still collapsing! Investors upset! | LIC IPO: Rs 1.8 lakh crore loss! Still collapsing! Investors upset! | Puthiyathalaimurai – Tamil News | Latest Tamil News | Tamil News Online

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The federal government has taken steps to sell shares in LIC, India’s largest public sector insurer. However, LIC’s IPO was postponed due to a sharp fall in stock markets following the outbreak of the Ukraine-Russia war. The LIC IPO was held from May 4 to May 9. The stock was issued at a price of Rs.902-949. A total of 31.6 crore shares were sold. Of this, 5 per cent was earmarked for employees and 10 per cent for personal insurers.

LIC rolls out new customer-centric initiatives

Mostly only domestic investors were interested in selling LIC shares. It is not even interested in buying even though 2 per cent is reserved for foreign investors. LIC shares were listed on the Stock Exchange on May 12. LIC was listed at Rs 949 per share, which is 8 per cent lower than this price.

LIC may list on May 17; IPO of right size, says Dipam Secy Tuhin Pandey |  Business Standard News

The stock fell to Rs 867 on the first day. Shares of LIC, which continued to fall, fell to Rs 708 earlier this month. This has worried investors who are eager to buy LIC shares. LIC’s share price closed at Rs. Fell to 661.70. LIC has seen a 30 per cent decline in the last two months compared to the introductory price of Rs 949.

The-market-value-of-LIC-has-declined-by-Rs-77600-crore-in-just-four-days

The federal government has expressed concern over the continuing decline in LIC shares. Earlier this month, Duhin Kantha Pandey, secretary of the Securities and Exchange Board of India, said measures would be taken to protect the interests of equity investors, even if it was a temporary decline.

Must consider shareholder interests: DIPAM secretary Tuhin Kanta Pandey |  Business Standard News

The LIC IPO was introduced with the largest build called LIC 2.0. LIC, which was valued at Rs 6 lakh crore at the time of listing, has now fallen to Rs 4.8 lakh crore. The stock market has lost Rs 1.2 lakh crore.

Rising interest rates and global inflation have hit foreign demand for Indian stocks hard. Foreign investors have pulled out over Rs 45,000 crore from Indian stock markets in anticipation of a sharp fall in global markets at any moment. Experts say that LIC’s stock will continue to fall and that more pain awaits its investors.

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