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.
Tapas Unmanned Aerial Vehicle (UAV) has completed 18 hours of flight testing. It has been designe
Tripura Bypolls: CPI(M) alleges rigging in Tripura by-polls, announces boycott of counting
CPI (M) has announced a boycott of vote counting in Tripura by-elections alleging large-scale rig
The National Pharmaceutical Pricing Authority (NPPA) has set limits on 119 drugs. Due to this, th
Eight days after the MP election results, the state has finally got a new CM. Mohan Yadav has bee
Sonu Sood On Fateh: Why did Sonu Sood make 'Fateh'? Said- he spent two and a half months in one shot
Sonu Sood's film 'Fateh' hit the theaters on January 10. This film is directed by Sonu Sood and h
Tiger 3: After seeing Salman's new look in 'Tiger 3', fans are desperate, demanding Katrina's look.
Bollywood's Bhaijaan i.e. Salman Khan is continuously in the headlines for his upcoming film 'Tig
The wreckage of Nepal's Tara Airlines, which crashed on Sunday, was found on Monday (May 30). The
Union Defense Minister Rajnath Singh will launch the website of 'Son of Mother Bharti' today. Aft
After India, New Zealand, South Africa, England, and Afghanistan, now Australia has als
The blizzard that came before Christmas in America continues to wreak havoc. This storm, which ha
