The shares of the country's largest insurance company LIC are falling continuously and this process is going on for nine days. On Friday, its price fell 25 percent from the issue price on the BSE to Rs 709.20. It is worth noting that the price band of the company's shares was fixed at Rs 902-949.
Experts say that despite being a fundamentally sound company and having a good listing price, the high inflationary environment coupled with the slowdown prospects has put insurance giant LIC in the lurch. Experts are expressing the possibility of its decline till near 680. It is worth noting that even before the IPO of LIC, it was expected that the condition of the country's largest IPO could be similar to that of Paytm, and according to which its shares are declining since the listing, It seems that LIC is also following the path of Paytm.
It is worth noting that LIC had raised 21 thousand crores from the market through IPO. It was open for subscription from May 4 to May 9 and was listed on the stock exchange on May 17. The IPO was subscribed 2.94 times. Its shares were priced at Rs 902-949 per share. Let us tell you that the shares of LIC were listed at a discount, according to the estimates, and disappointed the investors badly. The shares were listed at a discount of Rs 81.80, or 8.62 percent, at Rs 867.20 on the BSE, while it was down on the NSE at Rs 872.
Also Read: ICICI Bank: After RBI, ICICI Bank gave a setback, increased interest rates by 0.50 percent
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