18.9 C
Thursday, July 7, 2022

LIC Share Update: For the first time, LIC’s stock slipped below Rs 700, investors lost 1.64 lakh crore, know why the share fell?

- Advertisement -spot_imgspot_img
- Advertisement -spot_imgspot_img

LIC Share Price: LIC’s stock has also seen a record fall in the midst of a huge fall in the stock market. For anchor investors, as soon as the lock-in period is over, LIC’s stock has slipped below Rs 700 for the first time with a fall of more than 3 percent. LIC’s share has made a low of Rs 682. At present, the stock is trading at Rs 288 with a fall of 2.95 per cent. LIC’s stock has fallen more than 27.50 percent from its IPO price by more than Rs 260.

Why did LIC share fall?
Actually, the lock in period for the anchor investors who have invested in LIC’s IPO is over today. Anchor investors who are incurring heavy losses on their investments are believed to be selling due to selling by anchor investors. Due to this pressure, the stock of LIC has slipped below Rs 700.

28 percent below IPO price
After listing, LIC’s stock has fallen by 28 percent in the last 20 trading sessions. LIC had fixed the issue price of its IPO at Rs 949. The stock closed at Rs 682 on Monday. That is, Rs 267 below its issue price.

Rs 1.64 lakh crore loss to investors
The major setback of the fall in LIC’s stock has come to those investors who had invested in the IPO, especially the retail investor. LIC’s market cap has come down to Rs 4.34 lakh crore. Whereas according to the IPO price, the market capitalization of LIC was estimated at Rs 6 lakh crore. That is, investors are now incurring a loss of Rs 1.64 lakh crore.

read this also

Rupee at All Time Low: Record fall in rupee

Stock Market Opening: Indian market opened with a huge fall due to selling, Sensex fell below 53,000 points, down 1500 points


- Advertisement -spot_imgspot_img
Latest news
- Advertisement -spot_img
Related news
- Advertisement -spot_img