This stock has fallen up to 25 percent.
The stock has slipped 25 per cent against the issue price so far. The DIPAM secretary said that the government is also worried about the continuing fall in LIC’s shares. Together he also said that this decline is instantaneous.
The decline in the shares of Life Insurance Corporation continues, due to which the government is also looking worried. this week it share ,LIC Shares) closed at Rs 710 level. During trading on Friday, it had slipped to the level of Rs 708, which is the lowest level of 52 weeks. Rs 949 is its 52 week high which is also its issue price. Compared to that, this stock has slipped about 25 percent so far. market cap (LIC market capTalking about ), during this period it has come down to about Rs 1.5 lakh crore. Its market cap had crossed 6 lakh crores on the day of listing, which has now come down to Rs 4.48 lakh crores.
Due to the continuing fall in the shares, the government said that it is also worried. However, he called this decline temporary. The government said that the insurance company management will look into these aspects and enhance the value of the shareholders. Shares of Life Insurance Corporation of India (LIC) were listed on May 17 at Rs 872 per share. The government had fixed the issue price of LIC’s share at Rs 949 per share. Prior to this, its initial public offering (LIC IPO) was subscribed nearly three times.
DIPAM secretary said that we are worried about the fall
Since the listing, LIC’s shares have remained at a lower level than the issue price. It went up to a low of Rs 708.70 per share and a high of Rs 920 per share during this period. Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) said, “We are concerned about the fall in the share price of LIC, this decline is temporary. The management of LIC will look after all these aspects and will add value to the shareholders.
Lock-in period for anchor investors ends on June 13
Market experts say that this stock may fall further in the coming days. The lock-in period for anchor investors is ending on June 13. In such a situation, they can also sell on a large scale, due to which the shares will fall further. Santosh Meena, Head of Research, Swastik Investment Limited said that the lock-in period of one month for anchor investors may end. The day the anchor investors will come for selling, the price on that day will act as a strong support.
Anchor investors have invested Rs 4000 crore
Let us inform that veteran investors like Government of Singapore, SBI Mutual Fund, HDFC Mutual Fund and Axis Mutual Fund have invested in Life Insurance’s IPO. Domestic mutual fund houses had bought into it extensively. 99 schemes had invested Rs 4000 crore in this IPO. This investment was done as an anchor investor.