
LIC IPO was open for subscription on May 4 and till May 9, it has received an overwhelming response from policyholders, retail, and other investors. But due to the value of falling shares in the grey market, it was already being speculated to be listed at a discount. The same happened, on Tuesday, the company's shares were listed on BSE-NSE with a fall of more than eight percent. This fall has dealt a big blow to the investors.
Market capitalization has fallen so much
According to a report, within minutes of its listing on the stock market, the company's investors lost assets of over Rs 42,500 crore as its market capitalization came down to Rs 5.57 lakh crore in early trade as a result of the weak listing. The market capitalization at the issue price was more than Rs.6 lakh crore. The stock garnered a market capitalization of Rs 5,57,675.05 crore as against Rs 6,00,242 crore at the issue price in the initial round.
LIC's stock got listed so broken
Significantly, the country's largest insurance company LIC was listed at a discount in the stock market. The company's shares are listed on the BSE at a discount of Rs 81.80, ie 8.62 percent, at Rs 867.20. Whereas, the shares on the NSE are listed at Rs 872, down 8.11 percent. Before listing, LIC shares had lost up to 12 percent in the pre-market. The shares of the insurance company were trading at Rs 830 with a loss of 12.54 percent on the BSE.
IPO was subscribed 2.94 times
The LIC IPO bidding took place between May 4 and 9. LIC IPO was subscribed 2.94 times during this period. Explain that the government has sold a 3.5 percent stake in its wholly-owned LIC through IPO. This IPO got a tremendous response from all the investors except foreign investors. According to the report, the government has raised around Rs 20,500 crore through IPO. Its shares were priced at Rs 902-949 per share.
Long term investment beneficial
LIC's shares may have had a weak listing in the market and it broke the expectations of investors, but despite this, market experts are calling it a profitable deal. According to Anuj Gupta, an expert in stock market affairs, investors should hold shares now. Apart from this, for those who have not been allotted, buying shares at a discount price can be extremely beneficial. He said that in the coming time, it is expected that LIC's stock can touch the level of Rs 1200 to 1300. He said that long-term investment in this can prove beneficial.
India's fifth-largest company
The market value of LIC was estimated at Rs 6 lakh crore, but due to the fall in shares, its market capitalization is currently Rs 5.6 lakh crore. But according to the market cap, LIC has been included in the top-5 companies in India. Let us inform here that apart from LIC, Mukesh Ambani's Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and Infosys are among these five companies.
This time, an amazing display of strength and bravery will be seen in the Republic Day Parade, in
Bihar Chief Minister Nitish Kumar broke ties with the country's largest party BJP and once again
Today we will tell you a story. This story of barely three minutes will take you through a few pa
Opposition candidate for the post of Vice President Margaret Alva will also appeal to PM Narendra
The first T20 match between India and New Zealand has been called off due to rain. After the T20
The most awaited teaser of Sonu Sood's film 'Fateh' has finally been released. The teaser of the
Surya Grahan 2023: Will Hybrid Solar Eclipse be visible in Bihar or not, how will it be affected?
What is Hybrid Surya Grahan: The first solar eclipse of the year 2023 took place on the day of Va
GST: Rs 1,48,995 crore GST collection in July, 28% increase over last year
GST collection of Rs 1,48,995 crore has been done in July. This amount is 28 percent more than th
Twitter on Wednesday added the 'official' label to the handles of leaders including Prime Ministe
Addressing the 'Nyaya Sankalp Workers' Conference' in Delhi, Congress President Mallikarjun Kharg