Life Insurance Corporation of India’s (LIC) Public offering that is widely praised, the list and performance of the company’s shares since its warm debut has changed from bad to worse.
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In BSE, LIC shares were closed at the lowest ₹ 800.25 per share on Friday, after going down to the lowest-day of all time of ₹ 800.
While the stock reached a lifetime of 920.00 a few days after registering on the stock exchange, down more than 15 percent of the issuance price of ₹ 949 per share.
After the closure of Friday, the LIC Market Capitalization (M-CAP) stood around ₹ 5.06,158, marking the touches loss of more than ₹ 94,000 crore from the price and loss ₹ 51,517 crore from the discount list price.
At the price of O ₹ 949, M-CAP LIC stands at ₹ 6.00.242 crore; Based on the list price at BSE, the LIC assessment fell to ₹ 5,57,675 crore, which resulted in a loss of around ₹ 42,500 crore.
Meanwhile falls in the giant stock price of insurance tracking the broader global equity performance, stock performance is not in accordance with the termination of the company’s phase as “Lic 2.0.”