LIC IPO: LIC IPO defrauded investors as soon as it was listed, Rs 42500 crore was sunk in a few minutes


Posted on 17th May 2022 03:20 pm by rohit kumar

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

Did you know?Explore Trending and Topic pages for more stories like this.

 

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.

 

Also Read: LIC IPO: The country's largest IPO will open today, here is the complete information related to the issue from the investment process

1 Like 0 Dislike
Previous news Next news
Other news

'Do you remember 8th March': 'Hopefully the message of Rs 2500 will come' Atishi wrote a letter to CM Rekha reminding her of PM's promise.

Leader of Opposition in Delhi Assembly Atishi has written a letter to Chief Minister Rekha Gupta

KKR vs RR: Butler, who came in as an impact player, left an impact, and scored his second century, Narine's hard work went in vain.

Rajasthan Royals won the 31st match of IPL 2024 on the last ball. Jos Buttler gave the team its s

Smartphone Overheating This Summer? Follow These 8 Easy Tips to Keep Your Phone Cool

Smartphone Heating Problem Increasing During Summer

 

With temperatures risi

ICC Men's T20 World Cup: Could Uganda replace Pakistan? An ICC decision could turn the tables.

Pakistan announced on February 1st that they would participate in the 2026 T20 World Cup, but wou

PM Modi in Kanpur: PM Modi's road show in Kanpur today; CM Yogi will also be with him, SPG took over the security arrangements

Prime Minister Narendra Modi will come to Kanpur today at 5.15 pm. He will take out a one-ki

New START Treaty: Putin suspends START nuclear deal with US, apprehensions about war increased

Warning to Western countries, Russian President Vladimir Putin announced the termination of the N

Ram Mandir: Enthusiasm about Ram Mandir even in foreign countries; Live telecast of the consecration will take place at Times Square.

The live telecast of the consecration of Ram temple in Ayodhya on January 22 will be not only in

National Achievement Survey 2021: Drop in the average performance of students as soon as they go to class 8th-10th, 48% of students walk to school

The ability to learn is decreasing by the time of classes VIII and X as compared to classes III,

'India will be drug-free by 2047', Home Minister Shah said- 'We will leave no stone unturned in punishing smugglers'

Home Minister Amit Shah on Sunday said that the Modi government is leaving no stone unturned to p

IND vs ENG: 'I have 35 balls', why did Ashwin say this to Kuldeep who took five wickets? Know the whole matter

Chinaman spinner Kuldeep Yadav's confidence has increased after getting a regular place in the pl

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash