Economy & Business

    LIC shares drop over 40% in first year; investors lose Rs 1.93 lakh crore

    The Hawk
    May17/ 2023

    New Delhi: In the first year of trading, the value of an investor's holdings in shares of the largest insurer in the country, LIC, fell by Rs 1.93 lakh crore, or 39.3 percent, from the issue price.

    On May 17 of last year, following a successful Initial Public Offering (IPO) that brought in Rs 20,557 crore for the government, LIC listed at a discount of more than 8%. The BSE listed LIC shares at Rs 872, while the NSE set its opening price at Rs 867.20.

    On the BSE, LIC shares have fallen by 39.92% from their initial offering price of Rs 949.—Inputs from Agencies